https://www.thestreet.com/investing/att-seeking-final-bids-for-direct-tv-by-friday-report-says
Wonder what will happen if a bid succeeds?
17 replies (most recent on top)
@1iee+18el4EGF,
More like an educated guess. With this crack crew of business geniuses anything is possible.
yes, if you choose not to transfer, severance will be provided
That's not been the case in other recent rebadges, if you don't take the deal you are basically quitting and get nothing but a boot in your a– on the way out the door.
T has No choice, Apollo is the only one willing to bet on this fiasco, T will be part owner until they cut their loses and accept defeat.. anbd write off the 60B loss in ther books.. while the dividend goes up just like black magic
yes, if you choose not to transfer, severance will be provided
@irfs will severance be offered if you don’t want to go work for the buyer?
Take the severance!!!!, You wont be the slave of some indian CEO for 12 months before you are discarded like garbage.. Bail the doomed ship ASAP
This is arrogant s0b Stank legacy. 1+1 was not 3
the $3T Tmobile fiasco was a chump change Stank-Randy flop
Apollo Equity is speculation, there’s nothing confirmed so why start rumors...
Can you refuse to be rebadged and get the severance?
all employees will be re-badged and gone after the 12 month forced transfer.. Only at AT&T.
So some Vampire Firm buys DTV, then what?
Are the employees turned into "Authorized DirecTV Providers" which would be but one step apart from some gypsy contractor in a beater pickup? Will the focus be only on last-resort customers with no other options - anything from the Mega-mansion guy on some remote hilltop to the trailer and hut crowd in the woods waiting for Armageddon?
New equipment, new features? - doubt it - we haven't had anything new since the tuuurd called Genie 2 so rule out anything remotely advanced beyond our current early 2000's technology. We've been refurbishing everything from receivers to LNBs for years now. If we could figure out how to reuse cable and fittings - we would be. I don't see much innovation in our future.
Our only cash cow lure for jock-sniffing s—ers has always been NFL Sunday Ticket. Who in their right mind is going to bid another 1.5 to 1.7 Billion for the Covid-Bowl when loose cash is a premium in this company. NFL has been signalling loudly for a year that they plan to move on beyond DTV. So there goes the garage jocks, the bars, and the sports restaurants.
Face it - DirecTV has become the bag phone of the industry. Yeah, it works, yeah, old people like it but when most of my customer base are Hispanics watching tele-novellas on the cheapest plan we offer or 80 year olds fondling Fox news - hard to see any longevity in this product.
Three years max before we go the way of Blackberry and Palm Pilot. Fondly remembered, but nobody wants one today.
Apollo Global Management private equity firm will be acquiring DirecTV and other media assets from AT&T, AT&T may keep a 20% stake( under discussion) valuing DirecTV at less than $12 billion, excluding debt
@bss , was it really sold? Who offered?
SOLD FOR 12B and ATT KEEPS THE DEBT, STINKY MASTER LOSER DID IT AGAIN, LOL
To the current EG employee: I used to work with that group until last year when I got laid off pre-COVID. I, too, know that stress and uncertainty, as we were told by our VP there would be staff reductions months before they actually happened. My advice to you would be to revamp your resume, update your LinkedIn, and start hitting up people you know for a job. I should've done that instead of waiting for the inevitable. But still, everything worked out because now I work for a company I really like, and in an industry that is seeing growth, not decline. I don't make as much money, but I'm more excited about my work and I'm not worried about getting kicked to the curb. The grass truly is greener on the other side. Start the process now, like today. Being proactive will give you peace of mind, and a head start in case something does happen. Good luck.
I'm in the Entertainment Group (El Segundo) and have no idea what lies ahead for the many employees on this side of the business. Reports say AT&T will keep a minority stake in DTV, I assume that will not include employees. I hear Private Equity firms are famous for running a business bare bones to maximize their return on investment and that can only mean major headcount reduction and no network improvements(?) I have 2 children under 5 and life could not be more stressful and uncertain.
The genius management of AT&T bought a losing business for $70B and will most likely get a few $B. This is criminal .... Stankey should be prosecuted. He literally ruined lives of hardworking employees.
He once bragged about his vacation mansion in Lake Tahoe his purchased for $12M: "I was steal." He mismanaged the company and profited - he is a crook.