Telco has a “valuation” problem for the struggling satellite provider it acquired for $48.5 billion in 2015
AT&T is all-in on streaming after launching its prized streaming service, HBO Max, in May. Outside of TV, AT&T is focused on building out its 5G wireless network. But what about DirecTV, which has increasingly been sidelined in its business and has been hemorrhaging subscribers?
Reports are swirling that AT&T is looking to unload DirecTV amid a pandemic that has crippled its balance sheet and accelerated the shift from pay-TV to streaming. On Friday, the Wall Street Journal reported that AT&T was exploring a deal for the struggling satellite company that could be valued at around $20 billion, citing people familiar with the matter. DirecTV declined to comment on Friday’s report.