Archive for the ‘directv now’ Category

Lawsuit: AT&T’s DirecTV Now is a flop and AT&T lied to investors about it

April 5th, 2019
An AT&T logo on a wall.

Enlarge / AT&T logo. (credit: Mike Mozart / Flickr)

AT&T lied to investors in order to hide the failure of its DirecTV Now streaming TV service, a proposed class action alleges.

AT&T told investors that DirecTV Now was succeeding even as its subscriber base fell due to price increases and the discontinuance of promotional discounts, said the complaint filed Monday in US District Court for the Southern District of New York. The complaint accuses AT&T and executives including CEO Randall Stephenson of violating the US Securities Act by "knowingly or recklessly" making false statements to investors and failing to disclose problems that were affecting DirecTV Now sales.

Via quarterly and annual reports, SEC filings, press releases, and other statements and documents, AT&T and its executives made statements "to securities analysts and the media that were designed to influence the market for AT&T securities," even though these statements "were materially false and misleading in that they failed to disclose material adverse information and misrepresented the truth about AT&T’s finances and business prospects," the complaint said.

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AT&T raises DirecTV Now price—again—after promising lower post-merger bills

March 12th, 2019
An AT&T logo on the side of a building.

Enlarge (credit: Getty Images | ljhimages)

AT&T is reportedly raising the price of DirecTV Now by $10 a month and notifying current subscribers that they will pay the new, higher price starting in April.

DirecTV Now packages today cost $40 to $75 a month before add-ons such as HBO, and current customers will reportedly pay $10 a month more regardless of which package they subscribe to, making the prices $50 to $85. News reports say AT&T is also reconfiguring its channel packages for new subscribers, adding HBO to basic packages while eliminating dozens of channels that aren't part of the AT&T-owned Time Warner Inc. New customers will reportedly be able to choose from two slimmer plans costing $50 or $70 a month.

The price hike and channel reduction are happening despite AT&T promising that its acquisition of Time Warner would lower prices for customers. When the Department of Justice tried to stop the merger, AT&T told a judge in a May 2018 court filing that the merger "will enable the merged company to reduce prices."

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