According to a new report, AT&T is actively looking to acquire media companies valued between $2 billion and $50 billion.
According to Bloomberg, the telecom company will seek deals over the next three to five years, effectively shifting its business model.
AT&T just spent $48.5 billion on its acquisition of DirecTV. The company’s CEO Randall Stephenson is working on his next deal from a spreadsheet of 40 to 45 peers and targets in the media industry, according to the report from Bloomberg.
Disclaimer: We have no position in AT&T Inc. (NYSE: T) and have not been compensated for this article.