From Kris Sayce – Port Phillip Insider (Australia) –
It’s a sign of desperation. Telephone and cable companies fear that the world is passing them by, and so they want to get into new markets.
AT&T Inc [NYSE:T] wants to go from being the owner of ‘pipes and cables’ to being a content owner — owning HBO and the Warner Bros studio.
However, merely owning content isn’t a guarantee of success. Channels Seven, Nine and Ten in Australia own a lot of content. Have they been outstanding investments?
Furthermore, have they been outstanding businesses?