Maybe Rupert Murdoch and AT&T knew what they were doing all along. In recent years both have curtailed their Hollywood ambitions. The pair sold entertainment assets to buyers keen to do battle in the content streaming wars.
For example, the three companies we are going to focus on today each offer stock trading at under $20 per share, are among the leaders at what they do, and have long-term growth opportunities. AT&T (NYSE: T) is a telecom company that operates the largest wireless network in the United States. Consumers have come to rely so much on their smartphones that they will prioritize paying their smartphone bills right up there with buying groceries and putting gas in their cars, making AT&T a utility-like stock in terms of revenue generation and one that investors can depend on.
The merger of WarnerMedia and Discovery that resulted in Warner Bros. Discovery (NASDAQ: WBD) has caused a shake-up for HBO Max. The company's CEO is currently on a mission to pay down a massive debt, with changes in streaming strategy and content cancellations making headlines almost daily. For Warner Bros. Discovery's next move, it needs to ditch or overhaul its DC film franchise. WarnerMedia was aiming to compete with Disney (NYSE: DIS) in 2013 when it released its DC film Man of Steel.