AT&T Inc. is close to closing a significant stake in DirecTV in private equity firm TPG, according to reports on Tuesday.
CNBC and Bloomberg news It has been reported that a deal could be announced this week or next week valuing the DirecTV business, which includes U-Verse and AT&T TV Now, at around $ 15 billion. That’s only a fraction of the $ 49 billion that AT&T paid for DirecTV in 2015.
AT & T. posted a write-off of $ 15.5 billion on its floundering pay-TV business in January. If it reported on the fourth quarter results Last month, AT&T announced that word got around 3 million subscribers last year through its DirecTV and U-Verse platforms, sparking speculation that the device is about to be sold.
AT & T’s chief executive officer, John Stankey, has reportedly tried to run down sub-par assets in an attempt to reduce debt, which now runs to around $ 150 billion.
AT&T shares
T, -0.48%
are down about 22% in the last 12 months, compared to a 24% increase for the S&P 500
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In these times.
