AT&T (T) is quietly closing down the Yaveo Hispanic streaming service that its DirecTV unit launched with much hoopla in 2014 when the satellite-TV provider jumped into the industry-wide race to lure customers with Internet-based video channels.
The move comes as AT&T (T) maneuvers to unveil a still unnamed video service in January. CEO Randall Stephenson, speaking at an investor conference earlier this week, said the service would feature an array of channels including programming developed by AT&T through its joint venture with Peter Chernin, the former 21st Century Fox (FOXA) executive.
Stephenson provided few details but told the conference, sponsored by UBS, that AT&T was "very interested" in putting together "a bundle of DirecTV content (that subscribers) can acquire over a mobile device or a single screen in the home."
"Putting together a bundle of DirecTV content they can acquire over a mobile device or a single screen in the home: that is something we are very interested in...You should assume we're doing something," Stephenson told the conference.
But in the process of building a new entertainment service that might rival everything from Netflix (NFLX) , Time Warner's (TWX) HBO NOW and Dish Network's (DISH) SlingTV, AT&T elected to close down Yaveo. The Latino-focused channel posted news of its shutdown on its web site, saying that the service would no longer be offered after 11:59 pm on Dec. 15.