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AT&T Pinched by Cord-Cutting and Closed Theaters

by Bioreports
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AT&T Inc.’s Inc.’s legacy television business continued to lose customers during the third quarter while its movie business was sapped by the pandemic and new media bets struggled to gain steam.

The telecom and media giant said Thursday that 8.6 million customers had activated HBO Max, its Netflix-like streaming video service, by the end of September, trailing rivals like Disney+ and Hulu. The overall number of customers watching HBO in any form rose to 38 million in the U.S. and 57 million world-wide, exceeding the company’s…

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