For months, AT&T has courted several suitors who have expressed an interest DirecTV, which the phone company acquired in 2015 for $66 billion, including $17 billion in debt.
On Wednesday, the Journal said bids for DirecTV put its valuation above $15 billion, a fraction of what AT&T paid for it five years ago.
Among the bidders are Churchill Capital Corporation IV, a blank-check firm, and Apollo Global Management, which was seen as a front-runner to acquire some or all of the satellite service.
Once seen as a prized gem in the pay TV space, AT&T acquired DirecTV at a time when customers were starting to ditch traditional cable and satellite offerings for cheaper, online-based streaming services like Netflix, Hulu and Sling TV.
For five years, AT&T has been unable to turn things around, with DirecTV shedding customers as its pay TV packages became more expensive. The Journal said AT&T had lost 7 million customers across DirecTV and its other pay TV services in just the last two years.
Earlier this year, AT&T stopped marketing DirecTV in urban and suburban communities, pushing customers who live in those areas toward its online-based AT&T TV service instead.