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from the only-lost-$500-million-per-month...for-60-consecutive-months dept.
After Buying DirecTV For $50 Billion In 2015, AT&T Now Seeks To Sell It For Under $20 Billion:
How do you destroy $30 billion in value in just five years? If you are AT&T, you buy DirecTV in 2015 for $50 billion and five years later you try to sell it - now renamed to AT&TTV - for less than $20 billion, a loss of 60% on the deal.
That, according to the Wall Street Journal is what AT&T hopes to do as it takes "a fresh look its DirecTV business" exploring a deal for a service wounded by cord-cutting. And by fresh look, the journal means sell.
When AT&T announced plans to acquire DirecTV in May 2014, the vision was to control some 26 million TV subscribers. However, the resulting slump in cable and satellite viewership due to the relentless encroachment of streaming services, the value of DirecTV has seen a sharp drop in recent years and the result is yet another catastrophic media deal. And since the pay-TV unit has shed 7 million U.S. video connections over the past two years, a deal could value the business below $20 billion, the WSJ sources said.
(Score: 1, Insightful) by Anonymous Coward on Sunday August 30 2020, @11:49AM (1 child)
"The reason Americans have no savings, huge credit card debt, and are always on the verge of bankruptcy is because they're lazy and entitled."
No, the reason is: you lose money by saving it due to inflation because our money is no longer tied to a standard to keep inflation in check. When there's no incentive to save, you have to use credit to make moderate and large purchases.
(Score: 2) by RS3 on Wednesday September 02 2020, @03:15AM
Recently I was surprised to see "layaway" signs at a major store. Admittedly not always possible, like if you need to buy a new major appliance in a hurry, but it's a good way to buy something now before the price rises faster than most investment interest, which is why and how
the Ponzi schemeour economy works...