AT&T Wireless 2015 Annual Report Download - page 3

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AT&T INC.
|
1
TO OUR INVESTORS
2015 was an eventful year for our company.
We closed our acquisition of DIRECTV and bought two companies that give us access to the Mexican
wireless market. We were successful in the U.S. government’s auction of wireless airwaves, enhancing
our industry-best portfolio of this valuable resource. Combined with our major investments over the
past 5 years in our wireless, fiber and Internet Protocol (IP) networks, we have assembled the pieces
to claim leadership as the top integrated communications company in the world. We believe it is
important for you to understand our core business strategy and the competitive advantages that
come from being an integrated communications company. We also want to reiterate how our business
strategy and our capital allocation strategy work together to create value for you, our owners.
Randall Stephenson
Chairman, Chief Executive Officer
and President