AT&T Chairman and CEO Randall Stephenson, on CNBC Monday touting the telecom giant's proposed $85 billion buyout of Time Warner, said DirecTV Now is launching next month with a price point "radically lower" than rival over-the-top video services of similar size and scale.
Stephenson, who did not go into further details on the pricing, told "Squawk Box" that DirecTV Now is a nationwide "mobile-centric product," with "100 premium channels." He added, "Purely mobility-driven [and] purely over-the-top, this is a whole new capability."
Last year, AT&T bought DirecTV for $48.5 billion, adding satellite TV to its wireless and broadband subscriber base. "As soon as we closed DirecTV, we went full out on developing this [DirecTV Now idea]," Stephenson said.
By taking the next step of bringing Time Warner on board, he said services like DirecTV Now would be enhanced by the media giant's television and movie content. "This is what we're after, speed of execution and changing the game."