For those with an extra few billion dollars in their pockets and hacking for ownership of large satellite broadcasters, it looks like DIRCTV is back on the market. Citing people familiar with the matter, The Wall Street Journal On Friday he informed the owner AT&T (NYSE: T) Apparently the business is trying to sell once more.
According to the sources in the article, the company and the consultant Goldam Sachs At least 50% of the unit’s sales have been discussed with private equity firms. Interest-parties have an alternative-investment expert Apollo Global Management And privately held platinum equity.
Other investors who were contacted declined to submit bids for DIRCTV. None of these potential suitors have been named.
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All negotiations are at an early stage. The sources of the article stressed that there is no guarantee of agreeing to the sale. No potential price or range has been identified for DIRCTV, nor is there any indication of when the sale will take place.
Satellite was once the mainstay of the broadcasting industry, but its position has been eroded by cord-cutting as consumers gravitate to video streaming services.
ATNDA is facing pressure from within to dive into DIRCTV, one of the many assets in its large-scale entertainment portfolio. Last September, hedge fund Elliott Management announced that it had bought a 2.32 per cent stake in the telecom giant and immediately asked it to release assets that were considered insufficiently productive, including DIRCTV. Since then, AT&T has considered several ways to unload the unit, but no results have been achieved yet.
AT&T, Elliott Management, Goldman Sachs and Apollo have not yet commented. Journal Article.
