AT&T CEO John Stankey breaks down WarnerMedia-Discovery merger and dividend cut

AT&T CEO John Stankey sits down with CNBC ’Squawk Box’ team in Pebble Beach, California, to explain why the company decided to spin off WarnerMedia with Discovery in a $43 billion transaction. For access to live and exclusive video from CNBC subscribe to CNBC PRO:   » Subscribe to CNBC TV: » Subscribe to CNBC: Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30:   Connect with CNBC News Online Get the latest news: Follow