Even bearish on the original DirecTV deal, AT&T (T) managed to shock me with the horrible Q4 video sub metrics. - Total video subs - 658,000- Linear video subs - 391,000- Satellite subs - 403,000- DirecTV Now subs - 267,000Even the analysts were shocked. https://twitter.com/WaltBTIG/status/1090591404852695046!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs");The good news is that the cash flow remains strong as these DirecTV Now subs aren't clearly generating cash flows. The dividend remains solid at 7%. Disclosure: Long T