AT&T’s WarnerMedia shuts down indie film streamer FilmStruck

AT&T’s WarnerMedia shuts down indie film streamer FilmStruck

AT&T Inc.’s T, -2.23% WarnerMedia is shutting down indie film streamer FilmStruck, FilmStruck announced Friday. “We would like to thank our many fans and loyal customers who supported us. FilmStruck was truly a labor of love, and in a world with an abundance of entertainment options,” FilmStruck said in a note on its website. WarnerMedia announced earlier this month it was shutting down DramaFever, the Korean streaming service it acquired in 2016, days after WarnerMedia CEO John Stankey announced that AT&T would be launching a new direct-to-consumer streaming service. AT&T, which announced third-quarter earnings earlier this week, lost a record 359,000 DirecTV satellite customers in the quarter, though its entertainment and wireless business helped offset the satellite slump. Shares of AT&T have fallen 24.8% so far this year, while the Dow Jones Industrial Average DJIA, -1.35% has gained 1.1%.

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