AT&T said it expects to invest about $48 billion by the end of 2023 to expand its fiber-optic network and 5G wireless service.
AT&T is working to merge its WarnerMedia unit with Discovery after facing shareholder questions about its transformation into a media and entertainment company, with the deal expected to close in the second quarter, according to Reuters. AT&T intends to refocus on its core business of providing Internet and telephony services.
"Now that the WarnerMedia deal is drawing to a close, we are approaching the starting line of a new era for AT&T," said AT&T CEO John Stankey.
AT&T is working to double the reach of its fiber-optic network to cover 30 million U.S. homes and expand 5G to reach more than 200 million people, the report said.
