Back in July of 2019, it was reported that AT&T was looking to sell its regional sports networks AT&T SportsNet. Now The New York Post is reporting that the offers to buy the networks only came in at about $500 million well bellow the reported 1 billion AT&T wanted.
Back in 2019, it was reported that AT&T has $180 billion in debt from buying DIRECTV and Time Warner Inc among other expenses. In 2019 AT&T sold its 9.5% share of Hulu back to Hulu for $1.43 billion. According to reports, AT&T also used that money to pay off its debt. AT&T’s CEO recently said that reducing debt is a top priority for AT&T this year and selling AT&T Sports Nets may help reach that goal.
For many cord cutters, the idea of AT&T selling its AT&T Sports Nets sounds like good news. The hope was that the new owners would finally strike a deal to bring the networks to services like Hulu, Sling TV, YouTube TV, to name a few. According to the NY Post AT&T doesn’t need to sell the network and with the offers being only half of what AT&T wants they may just keep the networks.
Sinclair recently paid $9.6 billion to buy Fox RSNs from Disney. Now though the networks have been dropped from DISH and even smaller services like fuboTV. This seems to have scared away potential buyers from AT&T’s planned sale.
The question now is will AT&T try to strike deals with live TV streaming services like Hulu with the goal to get more revenue by offering wider distribution or does this failed sale mean cord cutters will continue to be denied access to sports on AT&T Sports Nets. For now, we will have to wait and see what happens.
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