AT&T Inc is an American based Multinational Conglomerate holding company, and its headquarters is in Whitacre Tower in Dallas Downtown. AT&T is the largest telecommunication company, the largest company which provides fixed telephone services and also the biggest provider of mobile phone services in the USA. AT&T is also the parent company of Warner Media, and it is the largest media conglomerate in the United States ranked with its revenue.
If you have to wonder how the largest telecommunication service provider came to be, you are in the right place, here is the description of its inception, Evolution, and Net Worth.
The journey of AT&T began as a company called Southwestern Bell Telephone Company, and it was a subsidiary of Bell Telephone Company, which was founded by Alexander Graham Bell in the year 1877. It was American Telegraph and Telephone in 1885 and was rebranded to AT&T later on
The lawsuit between the United States and AT&T saw the divestiture of the company and its corporations, and this resulted in several independent companies. AT&T was purchased by SBC, and it started using the iconic logo and the stock trade symbol. AT&T bought BellSouth in 2006. The present AT&T is made up mostly of the previous Bell system.
The origin of AT&T is traced back to the Bell Telephone Company, which was founded by the legendary Alexander Graham Bell, Thomas Sanders, and Gardiner Green Hubbard. In full, it is called American Telephone and Telegraph (AT&T) and was established in 1885. It acquired the Bell Company in 1899. It established a chain of subsidiaries in Canada, and the United states monopolizing the phone business.
The monopoly enjoyed by AT&T was broken by the US regulators in 1982, AT&T was required to divest all of its regional subsidiaries and turn them into independent companies. The newly formed companies came to be known as Regional Bell Operating Companies. It continued with operations, but the break up was a huge blow to them because they faced stiff competition from new competitors in the market like Sprint and MCI.
The business acquired a lot of companies, included in this list was their Metromedia acquisition in 1987 and other several cable companies in the 1990s. It sold its cable companies and acquired other telecommunication companies. In 2015, it was ranked among the top 15 by the Fortune 500. In 2005 it was purchased by the SBC at $16 billion, after the purchase it acquired the name AT&T from AT&T Corp that it was referred to earlier.
In 2014, it purchased Lusacell a Mexican carrier company, after two months, it also bought NII Holdings a Mexican wireless business. The two companies then were merged and formed AT&T Mexico. They purchased DirecTV for$61.7 billion inclusion of their debt. In 2016 it announced a bid to buy Time Warner in order to increase the holdings it had in the Media sector for $108.7 million.
As of the year 2018, AT&T is the largest telecommunication company in the world. It also provides mobile phone services and fixed phone services in the United States. In 2018, the company sold minority ownership to DirecTV Latin America through IPO, it created a new holding company named Vrio Corp, and it was later canceled due to market conditions. In 2019, Elliot Management bought shares worth$1.2 billion of the AT&T stocks. On 4 March 2020the company announced an intention to do major cost cuts. Its main plan is to promote AT&T TV, which was launched in the same month.
Awards and Achievements
In 2018, it was ranked at position nine on the Fortune 500, and this is with the basis of its total revenue. It is said to be the largest corporation in the United States.
AT&T has diversified its operations and offers Media services; they own the Warner media and has opened other branches in Mexico.
Net Worth of AT&T in 2020
As of July 2020, The Net Worth of AT&T is estimated to be approximately $280 billion. Having net assets of $531 billion as of 2018 and Total equity of $193.884 million, it is with no doubt, the largest telecommunication company. It has employed over 251,840 employees as of 2019.
Besides being a telecommunication company, it also has other divisions like Warner Media, AT&T Latin America, and Xandr. All these are what have contributed to the net worth of the company over the years.
AT&T is the largest telecommunication company in the United States, and it has employed a lot of people over the year. It generates a lot of profits and revenue, and that is the reason they thrive. Their market value keeps growing over the years because it has diversified and ventured into other operations like Media. Definitely, its net worth will be more as the company continues to grow.