AT&T Loses More Than Half a Million DirecTV Customers, But CEO Says It's on Track

Dallas-based AT&T lost more than half a million DirecTV subscribers and about 83,000 subscribers in the first quarter to DirecTV Now, its live TV streaming service, the company reported Wednesday.But AT&T CEO Randall Stephenson told analysts in an earnings call that the company is on track with its major goals: paying down billions of dollars in debt, boosting free cash flow and stabilizing its entertainment group. He also pointed to bright spots and growth areas. Among them, he said, AT&T is investing significantly in its fiber network and 5G, the next-generation wireless network, which will support its video streaming business in the future. It's also on track to launch a new subscription video service to challenge Netflix in the fourth quarter.AT&T is juggling several significant challenges. It is trying to stem traditional TV losses, compete with fast-growing streaming services, pay down a heavy debt load and transform itself into a "modern media company" -- all while trying to merge the legacy telecom and the TV networks and movie studio brands that were once Time Warner.  Continue reading...