In AT&T’s WarnerMedia spinoff, a Hollywood outsider again learns a tough lesson

“AT&T is a company of engineers, which is a straightforward deal of: ‘How much capacity is out there, how much demand is out there, and how can I fill it,?’ ” said Jim Nail, a principal analyst at research firm Forrester who closely follows the telecom and media industries. “Entertainment is totally different. It’s an executive looking at a script and saying, ‘Should I spend $100 million for these words on my desk?’ An engineer hears that and says, ‘What are you talking about?’ ”