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Benzinga
Benzinga
Business
Adam Eckert

Why AT&T Shares Are Falling Today

AT&T WarnerMedia

AT&T Inc (NYSE:T) is trading lower Tuesday morning after the company announced it will spin off its interest in WarnerMedia to its shareholders at the closing of the previously announced transaction with Discovery Inc (NASDAQ:DISCA).

AT&T will spin off 100% of its interest in WarnerMedia in a pro rata distribution to shareholders. The transaction is expected to close in the second quarter.

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