Mar 2, 2020 - Technology

AT&T launches live TV service aimed at taking on cable

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AT&T plans to slash jobs as part of multi-billion cost-cutting effort

Photo: Saul Loeb/AFP via Getty Images

AT&T will look to cut tens of billions of dollars in costs over the next few years, including job cuts in the near term, AT&T president John Stankey said at a Morgan Stanley conference this week.

Why it matters: Critics were quick to point out that AT&T's cost-cutting plans come despite previous promises to increase investment and create jobs as part of the case for corporate tax cuts and the easing of net neutrality rules.

America's new favorite pastime

News consumption has skyrocketed in the U.S. over the past few weeks due to the coronavirus, according to TV ratings, web traffic, app downloads and social media interactions.

Why it matters: Without live sports and with Hollywood production put on pause, consumers are confined to the only type of new professional-grade content that's still being produced daily: news.

How the coronavirus-driven sports outage impacts TV and advertising

Illustration: Rebecca Zisser/Axios

Without live sports for the foreseeable future, it's unclear what networks like ESPN and FS1 will broadcast in those time slots or what they'll talk about on their studio shows and radio programs during the day.

Why it matters: With so many Americans nesting at home, linear TV viewership was expected to spike. But without sports, streaming platforms, video games and other mediums will likely be the big winners instead.

Go deeperArrowMar 13, 2020 - Sports