AT&T reportedly looking to sell DirecTV for less than half of the $49 billion they paid for it

It was reported in May that AT&T has been feeling the pressure to sell DirecTV, and it seems there may be progress on that front.

The Wall Street Journal reports that AT&T is exploring a deal for DirecTV, and “have been in talks with private-equity suitors about the satellite TV unit.” The WSJ adds that Apollo Global Management Inc. and Platinum Equity are among the potential bidders.

AT&T acquired DirecTV — home of NFL Sunday Ticket — for $49 billion in 2015, but sources tell The WSJ that the unit may sell for only $20 billion now. Do the math, and that’s well less than half of AT&T paid for it.

But with the constant increase in cord-cutters, to go with being $180 billion in debt after acquisitions (such as their purchase of Time Warner for more than $80 billion), AT&T may take what they can get for DirecTV.

[The Wall Street Journal]