31 May Here’s why AT&T decided to buy Time Warner, according to CEO Randall Stephenson [Re/code]
Photo: Asa Mathat for Vox Media
By Edmund Lee
May 30, 2018 | Recode Executive Editor Peter Kafka gamely asked AT&T CEO Randall Stephenson why it makes sense for his company to spend $85 billion to own Time Warner when it could simply license that same content. His answer came down to Netflix.
“A key variable is the direct relationship with the customer, and a lot of the media companies don’t have that direct relationship with the customer,” Stephenson explained onstage at the Code Conference in Rancho Palos Verdes, Calif.
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