“AT&T Inc. is weighing a sale of its regional sports networks as part of a plan to cut as much as $8 billion in debt by the end of the year, according to people familiar with the matter,” Bloomberg reports.
Bloomberg notes that the four regional networks, which come with rights to teams such as the NHL Pittsburgh Penguins, NBA Houston Rockets and MLB Seattle Mariners, could fetch almost $1 billion.
“Sinclair Broadcast Group Inc., which agreed in May to buy 21 Fox regional sports networks from Walt Disney Co. for $9.6 billion, could be among the potential buyers, the people said. John Malone’s Liberty Media Corp. and Ice Cube’s Big3 U.S. basketball league were among the other bidders for the Fox assets,” Bloomberg reports.
The report notes that AT&T has not yet begun formal steps to sell the networks.