AT&T Inc. Chief Executive Officer John Stankey says inflation could prompt the wireless and broadband company to raise prices for some core services while it continues to cut costs after getting out of the media business.

The company on Friday completed the planned separation of its film-and-TV empire into a new publicly traded company called Warner Bros. Discovery. AT&T shareholders will get a 71% stake in the new entity, which will be led by Discovery Inc.’s David Zaslav.