We've Got Hollywood Covered

AT&T Chief Won’t Rule Out a Potential DirecTV Sale: ‘We Have No Sacred Cows’

Randall Stephenson says executives are reviewing their full portfolio again

Randall Stephenson says he isn’t actively looking to sell or spinoff DirecTV right now, but the AT&T chief admitted there are no “sacred cows” in his portfolio. And the AT&T executive team has orders from Stephenson to commence another review of their holdings.

“[DirecTV] will be an important piece of our strategy over the next three years,” Stephenson said Monday on a conference call with media analysts and reporters. “But no portion of our business is ever exempt from a continuous assessment for fit and performance.”

“We’ll approach it with a fresh set of eyes and clarity,” he continued. “And we’ll evaluate multiple options that includes partnerships and other structures.”

The conference call was a particularly packed one. Not only did Stephenson (pictured above) have AT&T’s third-quarter 2019 financials to go over, he also unveiled his three-year plan.

Also on Monday, Stephenson promised shareholders that he would remain AT&T CEO through at least 2020. Stephenson said he has been talking with the board of directors to set up a “detailed plan” for succession when the time comes, however.

That doesn’t mean there are any “formal plans” right now though, Stephenson said.

Read more about AT&T’s Q3 earnings and its three-year plan here.