Sources: AT&T Considers Selling Minority Stake In Pay-TV Businesses

AT&T is in "discussions with private-equity firms, including Apollo Management, to sell a significant minority stake in its DirecTV, AT&T Now and U-Verse pay-TV businesses" in a "complicated transaction that would shift legacy assets off the wireless carrier’s balance sheet," according to Alex Sherman of CNBC.com. AT&T under the proposed deal "would retain majority economic ownership of the businesses," and "would maintain ownership of U-verse infrastructure, including plants and fiber." The buyer "would control the pay-TV distribution operations and consolidate the business on its books." Sources said that the deal "could include 30% to 49% of the combined pay-TV distribution businesses" (CNBC.com, 11/3).