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...It will hope to pick up subscribers from former NFL Sunday Ticket rights holder DirecTV. There is a reason Apple and Amazon do not separate out profits and losses from their own streaming services....
...The sale epitomises a growing shift away from expensive cable packages towards streamers, with Sunday Ticket now set to leave its longtime home on AT&T’s DirecTV satellite platform....
...Lex says AT&T’s two big media acquisitions — Time Warner in 2018 for $109bn and DirecTV in 2014 for $67bn — have proved to be millstones for the telco. 2....
...John Stankey, AT&T chief executive, said splitting off DirecTV would allow for “optimum value creation”....
...The US tech conglomerate, or one of its streaming peers, could also be in line for another big bundle of sports rights, now held by DirecTV....
...The more than $15bn valuation that the bids give DirecTV include the unit’s debt....
...Since the announcement of the DirecTV deal in 2014, AT&T shares are down a tenth, a figure that would be worse if AT&T had not fortuitously avoided cutting its dividend....
...But instead he opted to buy DirecTV for $67bn in 2015, including debt....
...Stankey, a telecoms veteran, was the driving force behind AT&T’s acquisition of DirecTV, the satellite TV broadcaster, and Time Warner....
...He outmanoeuvred Rupert Murdoch in 2001, foiling his initial attempts to buy DirecTV....
...“[But now] in the region in which we operate, DirecTV no longer exists.”...
...After the failed acquisitions of both Time Warner and DirecTV, together costing $175bn, AT&T shareholders are surely exhausted and traumatised. Media dealmaking has led to a string of calamities....
...The latter bought satellite TV service provider DirecTV for almost $50bn in 2015....
...In February, the telecoms company also sold a 30 per cent stake in DirecTV to US private equity group TPG, valuing the ailing television business at $16.25bn — roughly a third of what AT&T paid for it six...
...Remember US private equity group TPG bought a large minority stake in DirecTV in February....
...This included selling a 30 per cent stake in DirecTV to private equity group TPG this year, a deal that valued the ailing television business at $16.25bn — roughly a third of what AT&T paid for it six years...
...That came only months after it signed a deal with private equity company TPG to separate its DirecTV satellite business....
...The deal with Sony’s Funimation Global Group also coincides with an auction to sell AT&T’s satellite division DirecTV as part of a review of its assets....
...Instead, its two big acquisitions — Time Warner and DirecTV in 2014 for $67bn — proved to be millstones, says the Lex column....
...Known for his plain spoken pragmatism, Stankey has also this year jettisoned DirecTV, the satellite broadcaster whose acquisition was another flagship transaction by his mentor....
...(FT) News round-up KPMG UK to split roles of chair and chief executive (FT) AT&T unloads DirecTV stake to TPG and spins off pay-TV units (FT) Moderna expects $18.4bn from Covid vaccine deals this year...
...AT&T has received at least three offers that value its troubled satellite division DirecTV at more than $15bn, a fraction of the sum the US telecoms group paid for it in a high-profile deal five years ago...
...AT&T has also received at least three offers that value its troubled satellite division DirecTV at more than $15bn, a fraction of the sum it paid for it in a high-profile deal five years ago. 4....
...(FT Globetrotter) News round-up AT&T nears deal with TPG to sell minority stake in DirecTV, U-verse at $15bn valuation (CNBC) Carlyle’s Lee Aims to raise $130bn while ‘thinking bigger’ (BBG) Wells Fargo...
...DirecTV and Time Warner were already fading in the era of Netflix by the time Mr Stephenson paid premium prices for them....
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