Table: Cash Bind
After Comcast bid for AT&T's cable business in August, AT&T canceled plans for a $9 billion cable IPO.
AT&T has been unable to sell its minority stakes in Time Warner Entertainment or Cablevision. CEO Armstrong had hoped to raise $9 billion from the Time Warner stake alone.
AT&T's deteriorating core markets--voice and data for both consumers and businesses--have hurt cash flow.