AT&T is discussing selling its four regional sports networks as part of a plan to cut as much as $8 billion in debt this year, according to Bloomberg. Sale of the networks, which include broadcast rights of teams such as hockey’s Pittsburgh Penguins and basketball’s Houston Rockets, makes sense as the price to broadcast these games keeps climbing. AT&T could get $1 billion for the four networks, according to Bloomberg.
Sinclair, which just bought Fox’s 21 regional sports networks for $9.6 billion, is a potential buyer, according to the article. Former NBA Commissioner told The Information in an interview published on Tuesday that it was a smart deal by Sinclair, predicting that legalized sports betting will increase the value of TV sports rights. Another possible bidder is Fox Corp. Its networks were sold as part of Disney’s purchase of Fox’s entertainment assets but what’s left of Fox still has some sports assets.