AT&T targets fiber boost after WarnerMedia deal

AT&T CEO John Stankey outlined plans to boost spending on fiber and 5G rollouts, after the company announced a move to spin off its WarnerMedia unit and combine it with Discovery in a $43 billion deal. AT&T is aiming to more than double its fiber footprint in the coming years to reach 30 million customer locations by end-2025, “with the single goal of offering the best fixed broadband service in the market.” On the wireless side, he said the operator is planning to boost its rollout of C-band spectrum to reach 200 million people by end-2023, up from the 100 million target previously outlined. To achieve those goals, AT&T is planning to boost annual capital spending to “around $24 billion” once the deal closes. Stankey said the transaction is expected to wrap in mid-2022.