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AT&T’s Rumored CEO Shift ‘Makes Sense’ Says Wells Fargo

Shares of AT&T (T) are up 33 cents, or 2%, at $16.86, after Bloomberg’s Scott Moritz early this morning reported that the company is planning a shift in its executive structure if it completes its proposed acquisition of Time Warner (TWX), although the report seemed to be downplayed by AT&T CEO Randall Stephenson.

Wrote Moritz, citing multiple unnamed sources, Stephenson would drop the CEO title and become executive chairman, and the head of DirecTV, John Stankey, would be CEO of the company’s “media...