AT&T is looking into the possibility of selling HBO Europe in order to reduce a debt of $170 billion, reports the Financial Times, quoting current and former senior executives.
It adds that Sky, which is owned by Comcast, would be an “obvious buyer” given its relationship with HBO.
AT&T has owned HBO, along with Turner Broadcasting Systems and Warner Brothers Studios, since it acquired Time Warner in a deal worth $80 billion last year.
HBO licences its programming to local broadcasters and pay-TV operators in more than 20 countries in Europe. It competes with Netflix and has around 10 million subscribers on the continent.
Financial Times says there has been “unrest and turmoil” following the combination of AT&T and WarnerMedia, with the two companies having very different corporate cultures.
While AT&T is very much focused on the US market, HBO has a substantial business in Europe.