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Thursday, August 7, 2014

DirecTV, AT&T could own Houston sports network under bankruptcy plan, (NYSE: T)

DirecTV and AT&T Inc would jointly own a Houston sports network under a plan to end the network's bankruptcy, although current part-owner Comcast Corp warned it may challenge the proposal.The Houston Regional Sports Network, which operates as Comcast Sportsnet Houston, broadcasts the games of the Houston Astros baseball and Houston Rockets basketball teams.DirecTV Sports Networks would own 60 percent of Houston Regional Sports Network and AT&T would own 40 percent, according to documents filed late Wednesday with the U.S. Bankruptcy Court in Houston. The plan must be put to a vote of creditors and approved by the U.S. Bankruptcy Judge Marvin Isgur.Comcast made clear it did not back the plan in its current form.

AT&T Inc. (AT&T), is a holding company. The Company is a provider of telecommunications services. Shares of T fell by 1.18% or $-0.41/share to $34.21. In the past year, the shares have traded as low as $31.74 and as high as $37.48. On average, 23090700 shares of T exchange hands on a given day and today's volume is recorded at 20746992.