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Another AT&T activist investor proposes Dish-DirecTV tie-up

Elliott Management’s recent tirade against AT&T, highlighting above all else the operator’s shoddy M&A history, has sparked another private equity investor into action. Apollo Global Management late last week proposed a plan to offload a portion of the dwindling DirecTV operation through a merger with Dish Network – while still keeping control of the satellite service. However, AT&T COO John Stankey recently insisted there were no plans to sell DirecTV, claiming the satellite arm remains an integral part of future plans, even with the emphasis on the impending HBO Max streaming video launch. Apollo has therefore advised AT&T to fold DirecTV into Dish Network to create a new company, of which AT&T would retain ownership, financed by Apollo. The private…

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