AT&T said it expects to invest about $48 billion by the end of 2023 to expand its fiber-optic network and 5G wireless service.
According to a Reuters report, AT&T is working to merge its WarnerMedia unit with Discovery after facing shareholder questions about its transformation into a media and entertainment company, in a deal expected to close in the second quarter.
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AT&T intends to refocus on its core business of providing Internet and telephony services. “Now that the WarnerMedia deal is drawing to a close, we are approaching the starting line of a new era for AT&T,” said AT&T CEO John Stankey.
The US carrier is also working to double the reach of its fiber-optic network to cover 30 million U.S. homes and expand 5G to more than 200 million people, the report said.
