AT&T is not focusing on a sale of DirecTV, sources say
- While the company looks at a variety of options to improve its business, a spinoff of DirecTV is not among those being reviewed right now, sources tell CNBC's David Faber.
- A Wall Street Journal report on Wednesday said AT&T was exploring a breakup with the unit.
- AT&T, which acquired DirecTV in 2015, is under pressure from noted activist investor Elliott Management and that firm's founder, Paul Singer.
AT&T is not considering a split with its DirecTV unit right now, people familiar with the situation tell CNBC's David Faber.
The company is focusing on a variety of other options to improve its business in the wake of a new activist campaign at the telecom giant.
A Wall Street Journal report Wednesday said AT&T was exploring a breakup with the unit. The Journal, citing people familiar with the situation, said the company has weighed several options for DirecTV, including breaking it off into its own company or combining it with Dish Network.
AT&T, which acquired DirecTV in 2015, is under pressure from noted activist investor Elliott Management and that firm's founder, Paul Singer, who've questioned its purchase of Time Warner and the management of CEO Randall Stephenson. Elliott's $3.2 billion stake in AT&T represents one of the activist's largest investments ever.