AT&T Enters Late Stage of DirecTV Auction, Fielding Offers Above $15 Billion
By Cara Lombardo and Drew FitzGerald
AT&T Inc. received bids for its DirecTV unit valuing the
satellite-TV service at more than $15 billion including debt,
according to people familiar with the matter, as the widely watched
auction winds toward a resolution.
Among those submitting bids above that level was Churchill
Capital Corp. IV, a blank-check company run by former banker
Michael Klein, the people said. Apollo Global Management Inc., long
seen by many as the front-runner to buy DirecTV, submitted a bid
valuing the business at less than $15 billion, some of the people
The auction is in a late stage and should the company reach a
deal with one of the suitors, it could be completed by early next
--Miriam Gottfried contributed to this article.
Write to Cara Lombardo at email@example.com and Drew
FitzGerald at firstname.lastname@example.org
(END) Dow Jones Newswires
December 09, 2020 10:18 ET (15:18 GMT)
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