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Stock impact report

L.A. County to offer discounted home internet to lower-income residents in some neighborhoods [Los Angeles Times (CA)]

AT&T Inc. (T) 
Last at&t inc. earnings: 4/22 06:54 am Check Earnings Report
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The county announced this week that it had signed a contract with WeLink of Lehi, Utah, to build the network and offer the service in East Los Angeles Boyle Heights and South Los Angeles . Qualified households will be offered a $40-per-month discount on WeLink's rates, meaning they could obtain the basic 500-megabits-per-second service for $25 a month. The contract brings a new internet provider to neighborhoods now served mainly by Spectrum and AT&T , which also offer discounted service for lower-income residents — though at much lower speeds. But it will take months for WeLink to build its network, which will rely on a series of rooftop antennas connected to the internet through existing fiber-optic lines. The looming loss of federal subsidies is a much more immediate problem. Unless Congress renews its funding, the Affordable Connectivity Program will be lapsing this month , terminating a $30-per-month benefit that has allowed 23 million lower-income households to obtain broad Show less Read more
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