- directv would be valued at $15 billion in deal with Churchill
A blank-check company backed by former citigroup Inc. rainmaker michael klein is among the parties interested in buying a stake in AT&T Inc.'s DirecTV satellite-television business, according to people with knowledge of the matter.
Churchill Capital Corp. IV, which raised $2.07 billion in July, is working with advisers on a potential bid for the asset, the people said, asking not to be identified because the discussions are private.
seeking investors to buy a significant stake in the business, allowing the telecom and media giant to remove DirecTV from its books while maintaining access to some of its cash flow.
Private equity firm Apollo Global Management Inc.
Klein, Churchill Capital's chief executive officer, has been one of the busiest SPAC dealmakers, with three of his blank-check companies announcing mergers in the past two years. Last month, the educational technology companies Global Knowledge Training LLC and Skillsoft Ltd. agreed to merge with and go public through his Churchill Capital Corp. II.
He has previously shown an interest in media assets and considered buying Univision Communications Inc. this year. Instead, former Viacom Inc. Chief Financial Officer Wade Davis agreed in February to buy a majority stake in the Spanish-language broadcaster.
Source: bloomberg – Michael Klein's Churchill SPAC Eyes AT&T's DirecTV Stake