AT&T Inc

Time Warner (TWX) has high-quality content assets, and AT&T (T) has extensive customer relationships across the wireless, video, and fixed broadband platforms.

In 2016, Charter Communications (CHTR) completed its merger with Time Warner Cable and Bright House Networks.

Vodafone’s EBITDA was ~7.9 billion euros in fiscal 1H17, compared to ~8 billion euros in fiscal 1H16. Its EBITDA margin rose to 29.2% in fiscal 1H17.

A look at weekend holiday smartphone activations shows that Apple could have a reason to worry about its iPhone business.

In this part of the series, we’ll look at some value-centric measures for AT&T (T) compared to the other major companies in the US wireless space.

On October 23, Rockwell Collins (COL) announced that it intends to acquire B/E Aerospace (BEAV) for a total consideration of $8.3 billion. Within Rockwell Collins, B/E Aerospace will operate as its new Aircraft Interior Systems segment.

Early this year, Charter Communications (CHTR) completed its merger with Time Warner Cable and Bright House Networks, making Charter the second-largest US cable player.

Like Verizon, AT&T (T) also saw a revenue decline in its US wireless business in the last quarter on a year-over-year basis.

Verizon considers 5G to be a game changer. It also believes that 5G implementation will save costs for the company.

AT&T already spent $10.3 billion in capex in the first half of 2016 and expects to spend a total of $21 billion in 2016.

The global economy has experienced slower growth since the global recession, and mobile devices have shown simultaneous signs of market saturation.

T-Mobile has been adding low-band spectrum holdings.

Last month, Cisco completed the acquisition of European (VGK) video conferencing startup Acano for $700 million in cash.

Verizon’s (VZ) Marni Walden talked about how the company currently views quad-play offerings.

Investment-grade bond yields rose 8 basis points month-over-month and ended at 3.5% on November 30 due to high expectations of an interest rate hike in the December policy meeting.

In 1969, American Cable Systems was renamed Comcast Corporation.

In this part of our series, we’ll look at the performance of Vodafone’s AMAP—short for Africa, the Middle East, and Asia-Pacific—segment in fiscal 1H16.

The IYZ ETF generated investor returns of 4.3% in the trailing-12-month period, 5.2% in the trailing-one-month period, and 7.9% in the trailing three years.

AT&T changed its segment reporting structure. Its new segments are Business Solutions, Entertainment and Internet Services, Consumer Mobility, and International.

Verizon’s wireline segment revenue decreased ~2.2% year-over-year to ~$9.4 billion during the quarter.

Verizon launched its Custom TV service in April. A skinny bundle service, it gives more choices to customers, allowing them to select their TV channels

Apple (AAPL) is starting an annual iPhone Upgrade Program for its new iPhone models at Apple’s US retail stores starting September 25, 2015.

Since the merger, AT&T has extended bundled video and wireless offerings, such as its All in One Plan, which is being offered to DIRECTV and AT&T customers.

Sprint plans to implement a considerable densification program to harness its capacity spectrum holdings, making capital expenditures of ~$5 billion in fiscal 2015.

After Sprint CEO Marcelo Claure joined the company, Sprint added ~30,000 postpaid connections in fiscal 3Q14 and ~211,000 postpaid connections in fiscal 4Q14.

The Gigabit Pro service can provide much faster speeds than those offered by Verizon (VZ) FiOS, AT&T GigaPower, and Google Fiber.

What are the components of a risk arbitrage spread? There are a number of factors that figure into a trade. Let’s look at a typical cash deal first.

Not all deals are cash deals, however. Often companies will issue stock in lieu of giving cash for a deal. This adds a layer of complication to the process and also some risk factors we need to consider.

According to Verizon, the AWS-3 spectrum acquisition helped it gain depth in its spectrum holdings.

Verizon (VZ) reported its 4Q14 results on January 22, 2015. We’ll analyze the company’s quarterly performance while focusing on Verizon’s wireless revenues.

AT&T completed the $2.5 billion acquisition of Iusacell in January 2015. Iusacell is a wireless provider with 70% coverage in Mexico.

AT&T plans to focus more on business customers in 2015. The company’s Business Solutions segment caters primarily to enterprises, government, wholesale customers, and carriers.

High fixed costs result in high operating leverage. Acquiring new customers significantly increases a telecom company’s profitability.

The wireless network is also called the cellular network. It makes your mobile and smartphones work over radio signals.

A wireline network includes interlinked connection and redistribution systems. The network allows information—like voice and data—to travel electronically.

Telecom companies provide fixed and mobile voice, text, and data transmission to consumers, small businesses, enterprises, and government entities.

The average selling price (or ASP) for BlackBerry (BBRY) smartphones continues to decline. Last quarter, the ASP declined from $201 in fiscal 2Q15 to $182.

AT&T’s Mobile Share Value plan is another popular plan. It gives you shareable data for up to ten devices per account, unlimited domestic calls, unlimited domestic and international messages, and 50 GB of free cloud storage.

Despite the presence of a number of players, the sheer size of Verizon and AT&T gives the market structure a duopolistic character—smaller players like Sprint (S) and T-Mobile (TMUS) haven’t been able to match the larger players for size, resources, and scale.

On June 15, 2014, Medtronic (MDT) and Covidien (COV) reached an agreement to merge via a scheme of arrangement. The two companies more or less offer complementary goods.

Merger arbitrage, otherwise known as “risk arbitrage,” is an investment strategy that primarily focuses on mergers and capturing the spreads on announced deals.

Verizon continues to invest heavily in building its 4G LTE coverage and adding capacity for its existing coverage. Its capex spending increased from $3.6 billion in Q1 2013 to $4.2 billion in Q1 2014.

Masayoshi Son, Chairman and CEO of SoftBank Corp. (SFTBF) and chairman of Sprint (S), has been pushing for more consolidation in the telecom sector in the U.S.

The fund initiated positions in Pfizer Inc. (PFE), AT&T Inc. (T), and Valero Energy Corp. (VLO). It sold stakes in General Electric Co. (GE), The Walt Disney Co. (DIS), and Amazon.com Inc. (AMZN).