AT&T Inc. (NYSE:T) Making Inroads In The Entertainment Sector
AT&T Inc. (NYSE:T) could be making its way into the entertainment industry according to its latest patent filing. According to patent filings, the company has plans to venture into other businesses. In the latest filings, the company has reserved the name “WarnerMedia Ride.”
Although not much information is available about the service, a brief description shows that it is intended to “cover the category of downloadable mobile applications to connect wireless networks in vehicles for streaming audio-visual media content and video-on-demand content.”
The new service also has Instagram, and Twitter accounts with a link to the new service with the Twitter account. The Twitter account verified while the Instagram one is barred. According to a description on the Twitter account, the new service will offer news, sports, and entertainment.
WarnerMedia was established following the completion of the $85 billion merger between AT&T and Time Warner. There are several brands under the WarnerMedia umbrella: cable channels CNN, TBS, TNT, DC Comics, and Warner Bros. film studio.
It is not yet clear what exactly the new service will offer, but according to details available on AT&T’s connected cars website, the service has partnered with 25 automakers, including Toyota, Porsche, Honda, Ford, Chevrolet, and BMW. The company is offering cellular connectivity in cars.
Then telecom’s move to invest in-car entertainment makes sense for both the automakers and AT&T as there has been a significant advancement in car entertainment in recent days. Several models across various brands now include touchscreens in their cars and including entertainment forms like Hulu, YouTube, and Netflix.
Tesla has worked with the wireless carrier in the past to offer cellular connectivity for its cars.
AT&T exploring deal for DirecTV
AT&T is making a fresh try into the DirectTv business. This is according to people close to the matter. According to the source, the company, together with its advisors at Goldman Sachs Group Inc, has been in talks with private-equity suitors about the possibility of the telecom and media giant investing in satellite TV unit.
The talks are still at very early stages, and it is not clear what direction they will take.