First a hurricane, and now a whirlwind!
AT&T sells wireless networks in Puerto Rico and the US Virgin Islands to Liberty Latin American. A deal that cost LLA over 1.95 billion dollars. The move would put US carriers' in debt. AT&T's current debt is over 158 billion dollars. Lots of the debt was created from buying TV giant DirecTV and Time Warner Cable. Also, AT&T has recently sold stakes in HULU and some offices at the Hudson Yard for 2.2 billion.
Liberty is current the biggest pay-TV and Internet provider in Puerto Rico, they hope to go uphill from this deal, making them the biggest company in Puerto Rico. AT&T will continue operating DirecTV but will probably get a drop in sales after all contracts will be transferred to Liberty.
AT&T debt is starting to stack up and making the company nervous. They hope to cut 20 billion by the end of the 4th quarter. AT&T outrageous prices and even more outrageous cancelation fee's will probably help this happen fast. With AT&T, signing a standard contract gives you at least a 200 dollar minimum fee to get out of it, but could go all the way up to 1k. AT&T's debt is currently scaring the company and investors!