"Given that the Internet does not recognize state borders, the new law not only ends our ability to offer California customers such free data services but also similarly impacts our customers in states beyond California," announced AT&T said in their statement. AT&T informed customers of the updated effective March 25 in an email named "Data Free TV ends."

The company’s new the most perspective segment is Home Box Office (HBO) and HBO Max to reach 120-150 million by 2025. The company increased outlook from the previous expectation of 75-90 million subscribers. Expected revenues from the HBO segment have to more than double over the next five years.

Performance of AT&T’s shares (Tradingview.com)