AT&T’s new entertainment head John Stankey says the operator isn’t planning to sell news network CNN in the wake of its Time Warner merger.
In an interview with The Hollywood Reporter published Monday, Stankey attempted to clear up rumors claiming AT&T is looking to offload CNN and entertainment outlet TMZ after its $85 billion acquisition is complete. Stankey tells The Hollywood Reporter that selling CNN would be a “strategically missed opportunity.” AT&T also has “no intention” to get rid of TMZ or any other part of the collection of Time Warner assets it’s acquiring, he adds.
There’s good reason AT&T might want to hold on to CNN.
While the network recently slipped into third place in primetime news viewership behind MSNBC and Fox News, CNN just posted its most-watched second quarter ever back in June. Additionally, the network posted its second best quarter in 14 years among adults aged 25-54 for the Total Day viewership. Time Warner noted the strong ratings at CNN helped increase revenues during the second quarter at the Turner networks by 3 percent to $3.1 billion.
For the month of June, the network also reported its CNN Digital site ranked as the top online news and information outlet with a total of 105 million unique multiplatform visitors. CNN Digital beat out Yahoo News (86 million unique visitors), The New York Times (85 million), and FoxNews.com (79 million), among others, for the number one slot.
These figures are particularly notable as AT&T works to boost its DirecTV and DirecTV Now offerings, and strengthen its content position amid increased competition on both the wireless and cable ends. Notably, AT&T’s wireless rival Verizon recently picked up a trove of assets – including news, sports, and entertainment outlets – in its Yahoo acquisition. Post integration, Verizon executives have said they’re aiming to hit two billion consumers and revenues in the $10 billion to $20 billion range by 2020.
AT&T earlier this week announced the addition of CBS Television Network programming to its DirecTV Now lineup. The move will give subscribers access to content from CBS News, CBS Sports Network, The CW, Showtime, Pop, and video-on-demand offerings from CBS, The CW, Showtime, and Pop. Live local coverage will be offered in 25 markets, including New York, Los Angeles, Chicago, Philadelphia, Boston, Baltimore, and Dallas-Fort Worth.
Entertainment from CBS and The CW will be available on all DirecTV Now packages, the operator said, while Pop will be included starting on “Just Right” and CBS Sports Network starting on “Go Big.” Subscribers can choose to add Showtime for an additional $8 per month.