AT&T Explores Sale Of DirecTV : WSJ

at&t jan30 18sep19

AT&T Inc. (T) is exploring a sale of DirecTV, the Wall Street Journal reported citing people familiar with the matter.

The satellite TV business has been losing subscribers amid a worldwide shifting to cheaper online streaming services like Netflix Inc and Amazon.com Inc's Prime service.

AT&T has considered various options, including a spin-off of DirecTV into a separate public company and a combination of DirecTV's assets with Dish Network Corp. (DISH), the Journal reported.

AT&T may ultimately decide to keep DirecTV in the fold, the report said. AT&T acquired DirecTV in 2015 for $49 billion.

Meanwhile, other media reports today said that AT&T and Dish Network are not in discussions regarding a deal, due to regulatory issues.

Last week, Elliot Management, which owns a $3.2 billion stake in AT&T, has urged the company to divest DirecTV.

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