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AT&T is selling its majority stake in DirecTV to private equity firm TPG Partners for $7.6 billion, officially ending its ties to the entertainment industry, Michelle Chapman reported for the Associated Press (AP).
This deal will allow AT&T to focus entirely on its wireless 5G and fiber connectivity services, while also bolstering its balance sheet. I Photo: AT&T
AT&T disclosed in a filing with the Securities and Exchange Commission (SEC) on that it will receive payments from TPG and DirecTV for its remaining 70% stake in the satellite TV company.
These payments include $1.7 billion in the second half of 2024, $5.4 billion in 2025, and the final installment due in 2029.
This deal will allow AT&T to focus entirely on its wireless 5G and fiber connectivity services, while also bolstering its balance sheet. The transaction is expected to be completed in the second half of 2025.
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