SEC Filings

425
AT&T INC. filed this Form 425 on 12/06/2016
Entire Document
 

PRESENTATION


 John Hodulik - UBS - Analyst

 I am John Hodulik; I'm the cable and telecom analyst here at UBS. And thank you for attending the Global Media and Communications Conference. Our first keynote speaker this morning is Randall Stephenson, the Chairman and CEO of AT&T. Randall, thanks for joining us here this morning.


 Randall Stephenson - AT&T Inc. - Chairman & CEO

 Thank you, John. If you don't mind, before you go, we have a Safe Harbor statement I think is up here. And today's comments may contain forward-looking statements that are subject to risk; results may materially differ. Details can be found on our website. And also you need to be aware that we are in the quiet period with the FCC's 600 megahertz auction, so will be limited in terms of what we can say there. And we have filed an S4 regarding our proposed merger and that can be found also on the website.


 John Hodulik - UBS - Analyst

 Great. So we have about 40 minutes for Q&A and, just as a reminder, I have got the Crowd Mic tablet here, so if you have any questions please download the Crowd Mic app and submit any questions for us and we will take those in turn.

So, Randall, keeping in mind that you are -- that this is something of a warm up for your testimony tomorrow in front of the judiciary committee in Washington, why don't we start with the --.


 Randall Stephenson - AT&T Inc. - Chairman & CEO

 Thank you for doing that, that is very helpful.


 John Hodulik - UBS - Analyst

 Okay, now switching gears. Randall, you have presided over a major revamp of the Company taking AT&T into a new media sort of centric direction. Explain to us what are the underlying trends that are driving this pivot?


 Randall Stephenson - AT&T Inc. - Chairman & CEO

 Well, I guess I wouldn't consider it a pivot, John. I think what we have just recently announced is more a completion of a strategy rather than a pivot of a strategy. And if you go back to 2012-2013, I think it was 2012, we came out and made a very strong declaration that, look, we are a connectivity business, we are in the conductivity business. We aspire to do more than conductivity, but if you don't get the connectivity right you probably don't have license from your customers to go much beyond that.

And so in 2012 we began a very aggressive investment plan, it was centric on mobility. And so we have now built out an LTE-A network, a very robust LTE network that is engineered and designed around video. Software defined networking is kind of encapsulating this whole capability and we now pass 400 million people in North America, Mexico and the United States.

And what is unique we believe about where we are is we built this network that is I think uniquely suited for video and it is paired with 40 megahertz of fallow spectrum capacity. Think about it, we have 40 megahertz of capacity waiting to load with a video centric type capability. So kind of check that box; we are in a place that we like a lot with a lot anticipated capacity, a lot of room to run for video.
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