AT&T 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.
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.
AT&T hasn’t started a formal process to sell the networks, and there are no guarantees a deal will be announced, the people said. The four networks are AT&T SportsNet Pittsburgh, AT&T SportsNet Rocky Mountain , AT&T SportsNet Southwest and Root Sports Northwest . The four networks have rights to more than two dozen pro teams, college programs and NCAA conferences.
A representative for AT&T declined to comment, while Sinclair didn’t respond to requests for comment. A sale of the regional sports networks — known as must-see content for avid fans — highlights AT&T’s ongoing struggle to fix a debt-heavy balance sheet. The company, which has to spend money on a number of priorities, including an expansion of its 5G wireless network, has been financially
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