AT&T to Sell Majority Stake in DirecTV to TPG

AT&T has announced that it will sell a majority stake in DirecTV to TPG Capital. This decision marks a significant shift for the telecommunications giant as it seeks to streamline its operations and focus on core business areas.

Under the terms of the deal, TPG will acquire around 70% of DirecTV, while AT&T will retain a minority stake. The transaction is expected to bolster DirecTV’s financial position and facilitate its growth in a competitive market.

This move comes as AT&T faces challenges in the pay-TV sector, with a declining subscriber base and increasing competition from streaming services. By partnering with TPG, AT&T aims to leverage the investment firm’s resources and expertise to enhance DirecTV’s offerings and customer experience.

The deal is part of AT&T’s broader strategy to reduce debt and refocus its efforts on its wireless and broadband services. Both companies anticipate that this partnership will lead to operational efficiencies and improved service delivery for customers.

Overall, this development signifies a new chapter for both AT&T and DirecTV, as they navigate the evolving landscape of the media and telecommunications industry.