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Comcast would be a natural fit for WarnerMedia if AT&T were to spin it off, and Comcast could potentially split into separate media and telecom companies in that scenario, Moffett said.
AT&T will likely be broken up and will move on from WarnerMedia, analyst Craig Moffett predicts
Craig Moffett said on CNBC's "Squawk Box" that AT&T will eventually separate its telecom business from its media business.