has resumed conversations with private equity firms that have expressed interest in the satellite TV provider that has struggled with a steady and increasing stream of subscriber losses in the era of cord-cutting and the rise of streaming alternatives. Goldman Sachs is working with the telco giant on the sale.
AT&T is known to have considered a range of options for DirecTV for some time. A sale has become the most likely solution for AT&T as it manages financial pressures on the business and the debt load left on the books from the 2015 acquisition of DirecTV, for $49 billion, and Time Warner, for $85.4 billion in 2018.Likely bidders for DirecTV included Apollo Global Management and Platinum Equity, according to the Journal. AT&T shares rose 1.
DirecTV at present has about 17.7 million subscribers in the U.S., down from more than 23 million in 2018.. Dish has about 11.2 million subscribers. Dish shares climbed 6.2% in after-hours trading, on the heels of closing at $34.82. AT&T closed at $30.04 in regular trading. The sale of DirecTV will underscore that AT&T made a bad bet on timing in its acquisition by paying top dollar just as the value of the asset began to decline precipitously. The sale price of the unit is expected to be around $20 billion, or less than half of what AT&T paid five years ago.
DirecTV’s struggles have come to represent the perfect storm that traditional MVPDs are facing at a time of declining video subscriber revenue and rising programming costs for the fleet of entertainment, sports and news channels they offer in large bundles to consumers.
Source: Digital Coin News (digitalcoinnews.net)
I can’t wait. AT&T ruined DirecTV!
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
AT&T is reportedly mulling a possible sale of DirecTV - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. I know richdiculous87 won’t be buying them. Big sales are from Third World Countries during the World Cup ⚽️
Source: BusinessInsider - 🏆 729. / 51 Read more »
WarnerMedia Parent AT&T Looks To Shed Stake In DirecTV – ReportWarnerMedia parent AT&T is looking to sell a chunk of satellite broadcaster DirecTV to private equity investors, according to the Wall Street Journal, as the the heavily indebted wireless giant…
Source: DEADLINE - 🏆 109. / 63 Read more »
WSJ News Exclusive | AT&T Again Exploring a Deal For DirecTVAT&T is taking a fresh look at its DirecTV business, according to people familiar with the matter, exploring a deal for a satellite-TV service wounded by cord-cutting. DONALD TRUMP is the devil. Don't vote for him. They wanna get rid of it fast! They should be looking for a way to unload CNN
Source: WSJ - 🏆 98. / 63 Read more »
Jason Derulo's girlfriend has no complaints after his viral bulge snapJason Derulo has dished on his shock to the reaction of his sizeable manhood, after he shared a steamy snap that went viral last year
Source: Mirror Celeb - 🏆 476. / 51 Read more »
Gap reports surprise rise in comparable sales fueled by online demandApparel retailer Gap Inc reported a 13% rise in quarterly comparable sales on Thursday, with shoppers buying Old Navy, Athleta and Gap clothing online as the company's stores remained shut due to the COVID-19 pandemic.
Source: Reuters - 🏆 2. / 97 Read more »
Abercrombie & Fitch shares are soaring as the retailer's online sales boom and are profitable'As long as you can reduce fixed costs, this shift to digital can be profitable,' Abercrombie & Fitch CFO Scott Lipesky said in a phone interview. Maria41168395 Aren’t these the names of the infamous commercials involving teen nudity and glory to sexuality., sort of a planning ground for more future Epstein’s!! Not everyone in this world wants their kids looking at high gloss photo TRASH to sell overpriced clothes !!! 🎶I like girls that wear Abercrombie and Fitch, I'd take her if I had one wish...🎶
Source: CNBC - 🏆 12. / 72 Read more »