Sources: AT&T Receives Low Bids For Four RSNs, May Cancel Sale

AT&T’s auction to sell its four RSNs in Seattle, Denver, Pittsburgh and Houston "appears to be faltering," as bids it received for the channels came in around $500M, "significantly short" of expectations in the $1B range, according to sources cited by Josh Kosman of the N.Y. POST. The "key stumbling block: AT&T admitted to bidders that over the next 12 months it expects its regional sports networks, or RSNs, will suffer a drastic plunge in EBITDA." Sources said that the "lead bidder" is currently Sinclair Broadcast Group. But the sources added that "since receiving the underwhelming bids late last year, AT&T has not moved on an offer -- raising concerns that it might cancel altogether" (N.Y. POST, 2/18).