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Cord-Cutting Hits AT&T Hard

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Added by Jason in Telecom
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AT&T Inc’s third-quarter video losses sent pay-TV industry shares down on Thursday. Wall Street analysts are raising concerns about the continued threat of consumers cancelling their cable and satellite television subscriptions. The No. 2 U.S. wireless carrier said Wednesday that it lost 90,000 U.S. video subscribers. “It should be clear that [at&t], like all of its cable peers, is suffering from the ravages of cord-cutting,” says Craig Moffett, analyst at MoffettNathanson. The losses come after more options have entered the market that allow consumers to stream television over the internet at a cheaper price than paying for cable.
http://feeds.reuters.com/~r/reuters/topNews/~3/9uPRWS4trFE/att-subscriber-losses-highlight-cord-cutting-threat-analysts-idUSKBN1CH26T
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