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What might the end of Game of Thrones mean for the stock of HBO parent company, AT&T (T)?

Losing its most popular franchise, by far, obviously isn’t good for HBO – and thus AT&T, explains Hedgeye Communications analyst Andrew Freedman in the clip above. AT&T is looking to extract value from HBO in other ways.

“I think that the value that AT&T sees in the HBO business is much less than maybe what it used to be because they’re starting to bundle it in with a lot of their services,” Freedman explains in the clip above. “They’re even talking about divesting their HBO European business. So maybe they’re seeing the writing on the wall here and they’re trying to extract value from it in other ways.”

Watch the clip above for more.

Winter Is Coming For AT&T Stock  - early look