AT&T Sells Controlling 70% Stake in DirecTV to TPG for $7.6 Billion in Cash Payments

Sep 30, 2024, 10:24 AM

AT&T has agreed to sell its controlling 70% stake in DirecTV to private equity firm TPG for $7.6 billion. The transaction, which is expected to close in the second half of 2025, will see AT&T receiving $1.7 billion by the end of 2024, $5.4 billion after-tax in 2025, and $500 million in 2029. This deal marks AT&T's exit from the satellite TV business, a sector that has been experiencing declining performance. The cash payments will be made through 2029, and the deal is not contingent on any other transaction.