AT&T struck a truce with an activist investor that had been pressuring the telecom giant to revamp its strategy
AT&T Inc. struck a truce with an activist investor that had been pressuring the telecom giant to revamp its strategy and said its chief executive will stay at the helm through next year.
The deal came as the company reported another quarter revealing the challenges of moving beyond its traditional telephone business. Overall, quarterly profit and revenue declined from a year ago. AT&T’s core cellphone business gained subscribers but more than 1 million customers abandoned its DirecTV unit.
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