Ep. 1433 AT&T Loses $10 BILLION After CANCELLING Newsmax!!!
Turley Talks
podcast@turleytalks.com
4.8 • 1.3K Ratings
🗓️ 14 February 2023
⏱️ 9 minutes
🧾️ Download transcript
Summary
Highlights:
● “AT&T has fallen by almost 7 percent, wiping nearly $10 billion dollars from its market value! Interestingly, this was during a period when the S&P actually rose by about a percentage point, between January 25th and February 10th.”
● “There was a significant downturn for AT&T, and of course, Newsmax is claiming victory here, as is one of their biggest fans! President Trump noticed the stock devaluation.”
● “Someone needed to inform AT&T that these two dynamics are going to guarantee they would lose money with what they did: the rise of a parallel economy that’s being fueled by consumer politics that deliberately boycotts and buycotts in accordance with our economic and political values which is the heart of cancel culture.”
Timestamps:
[01:00] Why AT&T canceled Newsmax
[02:54] The boycott on both DirectTV and AT&T and Trump’s reaction to AT&T’s implosion
[05:29] What is the Trump era and how it’s hanging our nation
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Transcript
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| 0:00.0 | Are we seeing the revitalization of conservative civilization, all over the world has been a massive backlash against globalization, its leftist leadership, and its anti-cultural liberal values. |
| 0:16.0 | And it's just the beginning. |
| 0:19.0 | I'm Dr. Steve Turley. I believe the liberal globalist world is at its brink and a new conservative age is rising. |
| 0:26.0 | Join me every day as we examine these worldwide trends, discover answers to today's toughest challenges, and together learn to live in the present in light of even better things to come. |
| 0:39.0 | This is Turley Talks. |
| 0:49.0 | Hey gang, it's me, Dr. Steve, and we've got the latest victim of one of the fundamental laws of the universe. |
| 0:55.0 | Get woke, go broke, and boy, did they go broke. |
| 1:00.0 | At midnight of January 25th, AT&T's Direct TV cut the signal for the conservative cable news network, Newsmax, immediately shutting the network off from more than 13 million customers of the satellite service. |
| 1:16.0 | The stated reason given for the cancellation was an in-pass between Direct TV and Newsmax regarding licensing fees that Direct TV would pay Newsmax for airing their program in their streaming services. |
| 1:29.0 | So multi-channel video programming distributors like Direct TV pay licensing fees to the various channels that they feature. |
| 1:36.0 | And according to Direct TV Newsmax, they were asking too much money, and they decided that they didn't want to pay those fees. |
| 1:44.0 | The problem with that excuse is that it's being reported that Direct TV does continue to pay the fees to a number of left-wing liberal news networks that are getting far lower ratings in Newsmax. |
| 1:57.0 | And according to Newsmax, these leftist news networks have even higher fees, so a lot of people are smelling a rat here. |
| 2:05.0 | Even before services were cut, House Republicans weren't buying the excuse and urged Direct TV to reconsider dropping the conservative cable network. |
| 2:14.0 | A letter was sent to Direct TV in its owner AT&T co-signed by 40 Republican lawmakers threatening hearings at the satellite company went ahead with the cancellation. |
| 2:25.0 | Well, as of the 25th of January, they did just that, which made Newsmax actually the second conservative channel to Direct TV deplatformed in January of last year. |
| 2:37.0 | They announced in a very controversial move that they were dropping one American News Network from their channel offerings. |
| 2:43.0 | So many are seeing Newsmax as but the latest in what appears to be a deliberate targeted purge of conservative channels. |
| 2:50.0 | Well, that didn't sit well with conservatives. |
| 2:54.0 | Needless to say, a huge boycott of both Direct TV and the parent company AT&T was launched. |
| 3:00.0 | And according to Newsmax, ironically, since the cancellation, AT&T has fallen in terms of stock price by 7% wiping out $10 billion in their market value. |
| 3:12.0 | Now, this is during a time when the S&P actually rose by about a percentage point between January 25th and February 10th and the Dow Jones declined by just around 1.8% during that same time period. |
... |
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