The company logo for AT&T is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., September 18, 2019. REUTERS/Brendan McDermid
September 18, 2019
(Reuters) – AT&T is exploring parting from its DirecTV unit, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
The wireless carrier has considered various options, including a spinoff of satellite television provider DirecTV into a separate public company and a combination of DirecTV’s assets with Dish Network Corp <DISH.O>, sources told https://on.wsj.com/2kS2Hbs WSJ.
AT&T shares rose 1.5% in after-market trading. The company declined to comment on the report.
Earlier this month, activist investor Elliott Management Corp disclosed a $3.2 billion stake in the company and listed businesses, including satellite television provider DirecTV, as possible sale candidates.
The hedge fund urged the company to end its acquisition spree to focus on improving its business, while criticizing the $85 billion purchase of media company TimeWarner Inc last year and the $49 billion deal for DirecTV in 2015.
(Reporting by Neha Malara in Bengaluru; Editing by Arun Koyyur)
