At an investors conference this week, AT&T CFO John Stephens commented on the company’s regional sports networks, suggesting that there could be interested buyers and that an auction for the networks could be nearing an end.
We reported on AT&T looking into selling its regional sports networks last year, in an attempt for the company to cut down on its massive debts. At the time, reports estimated that AT&T could get close to $1 billion for the networks.
Hollywood Reporter shared the update from the investor event last evening. “We have had on the market our regional sport networks and we’re looking at the potential for those,” Stephens told the Deutsche Bank Annual Media, Internet & Telecom Conference, which was held virtually this year amid coronavirus concerns.
AT&T’s four RSNs include AT&T SportsNet Pittsburgh, AT&T SportsNet Rocky Mountain AT&T SportsNet Southwest and Root Sports Northwest.
While Stephens did not give details about who has been bidding on the networks, Sinclair and Comcast are likely to be in the race. Sinclair purchased most Fox regional sports networks from Disney last year, in a deal for $10.6 billion. As we all know, that led to Sinclair raising the price of distributing the networks, leading to YouTube TV losing some regional sports networks this month. Comcast, the other likely bidder, currently owns seven RSNs, the NBC Sports Regional Networks.
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