Reported 7 days ago
AT&T announced it will sell its 70% stake in DirecTV to TPG for $7.6 billion, exiting a declining satellite TV business. This move follows AT&T's joint venture agreement with TPG in 2021, where TPG acquired a 30% stake for $1.8 billion. The sale, concluding in 2025, allows AT&T to refocus on its core operations, as its distributions from DirecTV have been decreasing significantly.
Source: YAHOO