Reddit Is Still Furious About AT&T’s $47 Billion Loss From Six Years Ago

Core Viewpoint - AT&T is facing significant scrutiny due to a $47 billion loss from its media asset sales, particularly highlighted by the Ellison family's recent acquisition of those assets for $111 billion, which has sparked discussions on social media platforms like Reddit [2][3][4]. Financial Performance - AT&T's operating income fell by 7.25% year-over-year to $6.1 billion in Q3 2025, despite a 16.8% growth in fiber broadband revenue [4][6]. - The company's Advanced Connectivity segment, which generates 95% of EBITDA, is growing at an annual rate of 6%, compared to a consolidated growth rate of 3% [4]. Market Sentiment - Retail sentiment on Reddit has decreased from a monthly average of 30.4 to a weekly average of 24.7, indicating a bearish outlook on AT&T [2][5]. - The primary concerns driving this sentiment include the narrative surrounding the $47 billion loss from the DIRECTV sale, a decline in operating income, and rising leverage concerns [5][6]. Acquisition Context - The Ellison family is acquiring the same media assets that AT&T sold for approximately $43 billion in 2022, after initially purchasing them for $108.7 billion in 2018, resulting in a substantial loss for AT&T [3][4]. - The Ellison acquisition is backed by $57.5 billion in debt from major financial institutions, raising questions about the strategic rationale behind the purchase [3].