AT&T is said to be very close to an agreement on a minority stake in DirecTV.
Both Bloomberg and CNBC cited sources to say that AT&T is close to closing a deal with private equity firm TPG for $ 15 million. The news follows a report from New York Post in December that AT&T had engaged TPG on an agreement after previous offers had not delivered AT & T’s expectations. AT&T bought DirecTV for $ 49 billion Back in 2015, and it is possible that the company had hoped to scrape some of it back. But so has DirecTV bleeding customers for years, so there it is.
A spokesman for AT&T declined to comment.
Citing sources, CNBC reported that companies could announce the deal as early as this week. Expired too reported that AT&T CEO John Stankey had not wanted to sell the company’s problem child in full despite AT & T’s astronomical debt which currently stands at around $ 150 billion.
AT&T has also invested heavily in its large HBO Max experiment, a strange hodgepodge of licensed content, HBO content, Max originals and then all WarnerMedia stuff that was also mixed into the service. The service is AT & T’s answer to Netflix and Disney +, although the active subscriptions of these services continue to balloon – with 200 million and 95 million subscriptions – respectively HBO Max reported recently that it had 17.17 million “enabled” users. Optionally throw all of its 2021 Warner Bros. movies about service help.
It is, of course, possible that the agreement will fall through. But perhaps AT&T will finally be able to turn its rotting satellite company into someone else’s problem.