AT&T Stock Loses $10 Billion in Value After Dumping Newsmax

Since DirecTV dropped Newsmax on Jan. 24, AT&T’s stock has fallen by almost 7%, wiping nearly $10 billion from its market value.

AT&T, the 70% owner of DirecTV, has come under fierce criticism after deplatforming Newsmax from its satellite TV systems — the second conservative channel it has removed in the past year, with OAN going last April.

Days after the Newsmax drop, former President Donald Trump called on Americans to cancel not only DirecTV but all AT&T services, including cellular and wireless services.

“I think it’s deplorable,” Trump said of the cancellation. “Newsmax did well in the ratings, so they actually took something off that was actually doing well in the ratings, as opposed to other shows that don’t.”