AT&T nears deal with TPG to sell large minority stake in DirecTV, U-verse at $15 billion valuation

AT&T nears deal with TPG to sell large minority stake in DirecTV, U-verse at $15 billion valuation

AT&T is nearing a deal to sell a substantial minority stake in its DirecTV, AT&T TV Now and U-Verse business to private-equity firm TPG, according to people familiar with the matter. A deal could be announced as soon as this week, said the people, who asked not to be named because the discussions are private. The deal will value the AT&T businesses around at $15 billion. AT&T acquired DirecTV in 2015 for $48.5 billion ($67 billion with debt). AT&T has moved away from traditional pay-TV in the past several years as it has centered its media strategy around HBO Max. DirecTV, U-Verse and AT&T TV Now are based around a linear TV business of broadcast and cable networks that is losing millions of subscribers each year. AT&T lost nearly 3 million video customers last year and took a $15.5 billion impairment charge due to the company's re-evaluation of its domestic video business. A sale will provide AT&T will additional cash to pay down its debt, which stands at about $150 billion and has consistently declined through the past year. Hedge …
More on: www.cnbc.com