According to Bloomberg, Ericsson has retained Morgan Stanley to investigate the sale of the company’s media solutions business.
The company also has hired Goldman Sachs to look for a possible buyer for the media services unit. One or both businesses could stay with Ericsson, depending on the outcomes of those discussions.
In April Ericsson reported an operating loss for its media businesses, and said it was exploring “strategic opportunities.” Ericsson AB’s credit rating was cut heavily by Moody’s last month
Ericsson’s new CEO, Börje Ekholm, has said he wants to focus on networks, digital services and the internet of things.
It is not clear whether digital services will include Ericsson’s vast media business, which the company has built up over the years through a series of acquisitions. The unit includes the former Tandberg TV, Red Bee Media, play out businesses in the Netherlands and France, and Microsoft Mediaroom, as well as video processing software and video delivery hardware.
