AT&T T 0.52%, has hired Goldman Sachs Group Inc. GS 1.35% to see through the process of offloading its stake in DirecTV, according to a Wall Street Journal report.
What Happened
AT&T acquired DirecTV in 2015, and the total purchase price including assumed debt was about $67.1 billion.
With the rise of various digital and OTT platforms like Netflix Inc. NFLX 0.45% there has been a steady decline in the subscriber base of DirecTV, and this is said to be the reason AT&T is exploring a sale.
Advisors from Goldman Sachs and officials from AT&T have been in talks with private equity companies, WSJ said in a late Friday story, citing unnamed people familiar with the matter.
Apollo Global Management Inc. APO 1.54% and Platinum Equity are seen as potential suitors, the report said.
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