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AT&T reportedly trying to sell DirecTV after massive customer losses

An AT&T logo on the side of a building.

Enlarge (credit: Getty Images | ljhimages)

AT&T is reportedly trying to sell DirecTV to private-equity investors just five years after buying the satellite provider. The negotiations with potential buyers come after millions of customers ditched DirecTV over the past two years, and could value DirecTV at much less than the $ 49 billion AT&T paid for it.

“AT&T is seeking private-equity investors to buy the majority of its DirecTV satellite-television business, helping it cope with a major drag on its operations, according to people familiar with the situation,” Bloomberg wrote yesterday. AT&T and its advisers at Goldman Sachs “have been in talks with private-equity suitors about the satellite TV unit,” with potential bidders including Apollo Global Management and Platinum Equity, The Wall Street Journal reported.

AT&T could end up selling DirecTV for far less than it paid five years ago. “Any deal for the satellite TV service would be sizable but likely a far cry from the $ 49 billion AT&T paid for it in 2015,” the Journal wrote, quoting sources familiar with the talks as saying that “a deal could value the business below $ 20 billion.”

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Biz & IT – Ars Technica

Trump administration gives TikTok 45 days to sell to Microsoft or leave US [Updated]

TikTok's US operations may soon be part of every cool teen's favorite code conglomerate, Microsoft.

Enlarge / TikTok’s US operations may soon be part of every cool teen’s favorite code conglomerate, Microsoft. (credit: SOPA Images | LightRocket | Getty Images)

After weeks of rumor and speculation, the Trump administration this weekend gave TikTok’s parent company, Beijing-based ByteDance, 45 days to sell off the social media sensation or else stop operating in the United States—and Microsoft looks to be the buyer.

Microsoft on Sunday confirmed what several media outlets had been speculating since Friday, saying it is in talks to buy TikTok’s operations in the US, Canada, Australia, and New Zealand and may also invite other US investors to take minority stakes in the deal.

“Microsoft will move quickly to pursue discussions with TikTok’s parent company, ByteDance, in a matter of weeks, and in any event completing these discussions no later than September 15, 2020,” the company said in a corporate blog post. “During this process, Microsoft looks forward to continuing dialogue with the United States Government, including with the President.”

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Biz & IT – Ars Technica

As hackers sell 8 million user records, Home Chef confirms data breach

Meal kit and food delivery company Home Chef has confirmed that hackers breached its systems, making off with the personal information of customers.

But only after a hacking group put the stolen data up for sale…

Read more in my article on the Hot for Security blog.

Graham Cluley