AT&T Seeks Private Equity Buyers for Part of DirecTV

skypros

Administrator
8.28.20

(Bloomberg) -- AT&T Inc. is looking for private equity investors to buy part of its DirecTV satellite-television business, helping it cope with a major drag on its operations, according to people familiar with the situation.

Such a move could let AT&T remove DirecTV from its books while potentially still giving it access to some of the cash flow, said the people, who asked not to be identified because the discussions are private.

The Wall Street Journal reported earlier on the DirecTV deal discussions, saying that Apollo Global Management Inc. and Platinum Equity could be among the suitors. AT&T, based in Dallas, declined to comment.


AT&T shares rose 3.9% following the Journal’s report, while Dish Network Corp., DirecTV’s rival in satellite TV, surged as much as 7.7%.

The carrier has been struggling with what to do with DirecTV, which it acquired in 2015 for about $49 billion. The business is hemorrhaging customers, who are increasingly switching to online options for TV.

DirecTV has been open to a merger with rival Dish, people familiar with the matter said last year. But such a deal would raise antitrust questions. A proposed combination of the two satellite services was shot down by the Federal Communications Commission and the Justice Department in 2002.
 

chief engineer

Dish Network Retailer
This is one more thing ,we have to worry about like we don't have enough problems with them. It is clear they can no longer manage Directv now. Just what are they going to do to us in the mean time. It is not good press The public will react bad to this causing some not to subscribe as Directvs future is unstable. It has to happen as we can't go on under their current management. For now they will keep on causing us pain and financial loss. Just think it could even be worse for us if someone else takes over. Time will tell.
 
Top