AT&T's new unlimited plans still cheaper than Verizon's

AT&T's latest unlimited plans include a new live TV service

The new wireless plans will be AT&T's only unlimited offerings for new mobile-phone customers, though existing customers can keep their current plans.

The No. 2 U.S. wireless carrier is putting to use Time Warner's stable of content, including TV channels like TBS and CNN, to drive sales of the wireless plans at a time when carriers have struggled to find growth. Instead of getting the full, bloated DirecTV Now lineup, Watch TV has a much slimmer choice of channels that's partly built around AT&T's recent acquisition of Time Warner.

Notably, the service will include the ability to stream more than 30 live TV channels, including the Turner networks like CNN, TBS and TNT, as well as Discovery Inc. channels such as Discovery and Food Network, AMC Networks and A+E Networks.

The two new plans, Unlimited & More and Unlimited & More Premium, will feature free access to AT&T's new WatchTV service, which is built around some of the cable channels from Time Warner, now called Warner Media. It will cost $15 per month as a standalone product.

WatchTV is what's known as a skinny bundle, stripping out the local networks and sports channels for more entertainment-focused options.

At no additional monthly cost, users can choose to add one premium service from a list that includes HBO, Pandora Premium and Amazon Music.

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But the new plans also threaten to overwhelm consumers with too many choices.

AT&T's new unlimited plans arrive next week starting at $70 per month. If you want 1080p content you'll need to Unlimited &More Premium for $80 a month.

WatchTV is one of the first fruits of Stephenson's vision of combining content and wireless connectivity; and it's part of AT&T's efforts to grow its business at a time of intensifying competition among wireless carriers and a declining pay TV subscribers.

Finally, AT&T plans to expand availability of WatchTV at a later date, with even non-AT&T customers getting the option to use it if they want.

AT&T says its new plans will be the first of new offers that leverage its new entertainment holdings.

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