AT&T’s (T) bid to compete in the TV space and push the cable barbarians back into the Stone Age is off to a rocky start. The company announced a couple of small items. First, their expenditure to get the service up and running will be $1.4 billion more than planned. Let’s hope that no one in the accounting department lost his job.
According to The Wall Street Journal, there is at least one other problem: "The company also downgraded by one million the number of homes to which it will offer U-verse to 18 million…"
The new service, called U-verse, is AT&T’s attempt to get into the TV business so it can offer voice, television and broadband in one package. The cable companies are doing that already, and they are taking a ton of voice customers from the phone companies every quarter. In Q1, Comcast (CMCSA) added over 500,000 VoIP subscribers. Time Warner Cable (TWC), Cablevision (CVC), and Charter (CHTR) has equailly impressive voice subscriber additions for the quarter.
They had to come from somewhere.
Douglas A. McIntyre
In 20 Years, I Haven’t Seen A Cash Back Card This Good
After two decades of reviewing financial products I haven’t seen anything like this. Credit card companies are at war, handing out free rewards and benefits to win the best customers.
A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges.
Our top pick today pays up to 5% cash back, a $200 bonus on top, and $0 annual fee. Click here to apply before they stop offering rewards this generous.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.