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DALLAS (dpa-AFX) - AT&T Inc. (T) has reached a deal with private equity firm TPG Capital to make its struggling satellite TV provider DirecTV a new standalone company.The deal will establish
AT&T Inc. and TPG Capital are establishing a new standalone company that will own and operate DIRECTV, AT&T TV and U-verse video services.
AT&T Inc. agreed to sell a stake in its pay-TV unit to private-equity firm TPG and carve out the struggling business, pulling the telecom giant back from a costly wager on entertainment.
3935 AT&T Inc. (NYSE: T) and TPG Capital have reported the signing of a definitive agreement where AT&T will sell minority stake in DirecTV to buyout firm TPG Capital. DirecTV has an anticipated value of USD 16.25 Billion. DirecTV will be jointly managed by a board with two representatives from AT&T and TPG, including a fifth seat for the CEO, at closing will be Bill Morrow, CEO of AT&T’s U.S. video unit. At the close of the transaction AT&T will own 70% of the common equity and TPG the remaining 30%. “This agreement aligns with our investment and oper...
Here’s another look at how things are playing out in the DTH space in the US. AT&T, which acquired leading DTH firm DirecTV in 2014 in a much celebrated $48.5 billion deal, has announced it had reached an agreement with TPG Capital, the private equity platform of global alternative asset firm TPG, to spin that asset off into an entity called New DirecTV.