AT&T (NYSE:T) (“the Company”) reached an agreement to sell its remaining stake in DIRECTV to TPG. Under the agreement, the Company will sell its entire 70% stake in a non-contingent transaction subject only to customary closing conditions.
Over the past three years, the Company achieved financial outcomes consistent with its expectations that underpinned its decision to retain a 70% financial interest in DIRECTV. Reported cash distributions at, and since, the closing of its initial transaction with TPG totaled $19 billion and the Company expects to report an additional $7.6 billion of cash payments following this agreement to sell its remaining stake.
This sale allows AT&T to continue to focus on being the leading wireless 5G and fiber connectivity company in America. This transaction also continues to strengthen AT&T’s balance sheet by pulling forward cash expected over the next several years.
The Company expects the transaction to close in the second half of 2025.
Source: https://about.att.com/story/2024/directv-to-tpg.html