- Nov 29, 2003
Not new news, this has been talked about since October of last year-This Fiercevideo article says Apollo Managment day both DirecTV and Dish Network would be sold to Apollo Managment and and new SatelliteTV company would be formed.
AT&T is reportedly under pressure again to sell off its DirecTV business as the satellite TV industry continues to rapidly lose customers.www.fiercevideo.com
“Apollo Management reportedly suggested creating a new company and having AT&T offload DirectTV to the new company. Then, Dish Network would sell its satellite business to the new company.“
The private equity firm's pitch calls for forming a new company, still AT&T-controlled, that would also include rival Dish Network Corporation, reports Fox Business Network.
Private equity firm Apollo Global Management and an outside banker have proposed a deal to AT&T in which the telecom would spin off its DirecTV business while maintaining control of it, according to a Fox Business Network report.
The proposal also “essentially” calls for rival satellite TV provider Dish Network Corporation to be folded into the new, AT&T-controlled company that would be created.
Apollo would provide the transaction financing and hold a minority equity stake, along with Dish, Fox Business Network’s sources said.
The deal would net AT&T “roughly half of the $49 billion it paid for DirecTV in 2015,” but Apollo and the bankers are arguing that the benefits would outweigh the losses, according to the report.
Sent from my iPad using SatelliteGuys