This article brings insight into the fact that the three big companies that are trying to reinvent themselves as media giants are all heavily burdened by debt. It’s obvious that all of them can’t be market leaders and I’m afraid that anything less for either of these companies than to dominate the market is a ticket to fast failure, given the amount of debt that they piled up. What I find most frightening is the fact that of all three, AT&T has, by far the biggest amount of debt piled up, and it has the least experience in the media business. Failure in the media business looks like a very realistic option
https://variety.com/2019/biz/features/att-disney-comcast-debt-1203107407/