But before AT&T invests in its media assets, it is focusing on the debt. At the end of the quarter, net debt stood at $169 billion, down from $180 billion when the deal closed. AT&T said Wednesday that it reduced net debt by $2.3 billion in the first quarter. It is selling assets such as a Hulu investment and office properties including 30 Hudson Yards in New York to help pay down liabilities.

Source: Los Angeles Times April 24, 2019 14:26 UTC