The eye-opening news, received with pushback from a telecom company, was reported by Reuters in an investigative piece. The news agency reviewed the court records and came up with some excellent financial details and connections that were not previously reported.
Founder Robert Herring Sr., 80. OAN The company, which made its fortune in the circuit board industry, testified in a 2019 statement that the decision to launch the network was made by AT&T. According to the report, they told us they wanted a conservative network. “They had only one, which was Fox News, and on the other side they had seven others. [leftwing] When he said that, I jumped on it and built one.
Distribution deals with DirecTV have generated tens of millions of dollars in revenue, owned by AT&T until 2015, when a spin-off was completed earlier this year. The company still owns 70% of the satellite TV operator, but is now controlled by a separate entity with private equity funding.
Herring said he was offered AN 250 million for OAN (an agreement that did not go into effect), and his accountant testified under oath that without the DirecTV agreement and AT & T’s cooperation, OAN Will have a value of “zero”.
AT&T spokesman Jim Greer called AT&T’s role controversial and played the role of Roger Isles and set up a startup news outlet with clear political goals. He declined to address any of the financial issues raised in the court’s testimony, but said AT&T seeks to offer its customers a “different perspective from the political arena”.
OAN gained traction by working on a smaller, more reliable version of the feedback loop between Trump and Fox News. He tweeted OAN’s promotions more than 120 times in the last two years before his Twitter account was permanently banned. The network’s White House correspondent became so closely associated with the media environment around Raven Trump that she became the target of satire on Sasha Baron Cohen’s screen. Borat later film.. Like Newsmax and some other right-wing outlets, OAN also benefited from last November’s election, as Fox News reacted to Joe Biden’s call for an election. OAN has been a staunch supporter of the lies spread by Trump and other Republicans about electoral fraud in 2020.
The relationship between AT&T and OAN is particularly noteworthy in the context of the long-standing relationship between Trump and. CNN. Allegedly, the bloodshed led to a lawsuit against AT&T to prevent the Justice Department’s 11th-hour ruling from being obtained. Time Warner. Antitrust regulators have always insisted that the case was about consumer protection and monopoly concerns rather than a personal agenda. The federal judge who heard the case removed the Trump element from the table, leaving out the evidence and testimony that would try to establish the former president’s possible motive. An article by New YorkerHowever, in 2019, Jane Mayer linked Trump’s hostility to CNN and the no-confidence motion.
Although AT&T stood by CNN and kept its promise not to sell or remove it from the 85 85 billion Time Warner deal, it was backing a far-right competitor during the merger.
This controversy is not the first political confusion of AT&T this week. On Monday, the Dallas-based company backed by lawmakers who support the state’s tough new law restricting abortion was fired by the Democratic Super PAC.
An AT&T correspondent did not respond to a request for a deadline to comment on the Reuters investigation.