AT&T is promoting its majority stake in DirecTV to non-public fairness agency TPG Companions for $7.6 billion, ending the communication large’s remaining ties to the leisure trade.
AT&T stated Monday in a submitting with the Securities and Alternate Fee that it’s going to obtain funds from TPG and DirecTV for its remaining 70% stake within the satellite tv for pc TV firm. This contains $1.7 billion within the second half of the yr and $5.4 billion subsequent yr. The remaining quantity might be paid in 2029.
AT&T stated that the deal will enable it to concentrate on being a wi-fi 5G and fiber connectivity firm and strengthen its steadiness sheet.
The transaction is predicted to shut within the second half of 2025.
