AT&T, TPG set up DirecTV as separate entity

Monday, 02. August 2021 22:42

AT&T Inc. and private equity firm TPG Capital revealed on Monday that they have finalized their previously announced transaction, enabling AT&T's subsidiary DirecTV to become a standalone video company.

"This new company will own and operate the DIRECTV, AT&T TV and U-verse video services previously owned and operated by AT&T. DIRECTV had approximately 15.4 million premium video subscribers at the end of the second quarter of 2021," the telecommunications giant specified in a press release. Later in August, DirecTV will start offering video streaming services through its DirecTV Stream platform.

AT&T, which received $7.1 billion in cash in the deal, will hold a 70% stake in the new company, while TPG will own the remaining 30%.

Related Links: AT&T Inc.
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