AT&T Is Again Exploring a Deal for DirecTV

Any deal for DirecTV would be sizable, but likely a far cry from the $49 billion AT&T paid for it in 2015.

Photo: karen bleier/Agence France-Presse/Getty Images

AT&T Inc. T 0.47% is taking a fresh look at its DirecTV business, according to people familiar with the matter, exploring a deal for a service wounded by cord-cutting.

The telecom and media giant and its advisers at Goldman Sachs Group Inc. GS -1.16% have been in talks with private-equity suitors about the satellite TV unit, some of the people said. Potential bidders include Apollo Global Management Inc., APO -1.50% which had expressed interest last year, and Platinum Equity, these people said.

The process is at an early stage, and it’s not clear what form any deal would take—or if there will be one at all. It is possible some of the suitors will team up or submit joint proposals. Other investors that were approached have decided not to pursue bids, some of the people said.

AT&T executives have previously explored parting with DirecTV assets, including a potential spinoff or combining assets with rival Dish Network Corp., DISH 0.32% but obstacles, including antitrust concerns, have gotten in the way.

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