Advanced Television

AT&T: “DirecTV not for sale”

September 26, 2019

By Chris Forrester

AT&T’s COO John Stankey has told the WSJ that his DirecTV subsidiary is not for sale.

“[DirecTV] is an important part of what we’re going to be doing going forward,” he said, adding that the company had explored options for DirecTV but that was part of a normal review of AT&T’s assets.

Stankey said that DirecTV remained an important part of AT&T’s plan for streaming video and advanced advertising strategy.

AT&T overall lost 778,000 video subscribers (of which some 168,000 were from DirecTV) in Q2, and is already warning that Q3 losses could be greater.

Meanwhile, AT&T on September 24th repaid and terminated two long-term loans worth together $5.9 billion. It used $1.3 billion of cash and entered into a new loan for $1.3 billion to help fund the repayments.

Categories: Articles, Business, M&A