Benzinga | Sep 21, 2021 04:22PM EDT

Key Takeaways From AT&T CEO's Image Rebrand Plans

* AT&T Inc (NYSE:T) CEO John Stankey expressed unhappiness with his brand and sought an image makeover during the virtual Goldman Sachs Communacopia Conference.

* Stankey aims to refresh the brand beyond advertising as AT&T focuses on building out its 5G broadband service.

* AT&T's unsavory reputation as a landline telephone provider and reliable dividend payer persists despite its transition into a wireless carrier and owner of media assets.

* AT&T spent over $160 billion to acquire WarnerMedia and DirecTV, which failed to generate steam.

* Stankey is merging WarnerMedia with Discovery. He also split DirecTV into a standalone company.

* He attempts to focus on AT&T's wireless business, which lagged behind Verizon Communications Inc (NYSE: VZ) and T-Mobile US Inc (NASDAQ: TMUS) by subscribers after the 2020 T-Mobile and Sprint merger, CNBC reports.

* AT&T's branding failure included the launch of HBO Max despite HBO Go and HBO Now streaming services adding to customer confusion.

* AT&T also renamed DirecTV Now streaming service to AT&T TV Now in 2019, distinct from AT&T TV, before terminating AT&T TV Now and renaming the entire suite of services DirecTV.

* AT&T and DirecTV executives were reportedly critical of AT&T's management of DirecTV, which for years outpaced rival DISH Network Corp (NASDAQ:DISH) by customers.

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* Price Action: T shares traded lower by 0.92% at $26.96 on Tuesday.