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No one dumb enough to buy DirecTV, so investors propose spin off

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. With third quarter results fast approaching, AT&T would be wise to make a move sooner rather than later, before DirecTV’s next subscriber exodus is exposed. 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…

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