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AT & T finalizes DirecTV’s spin-off to its company

After AT & T, DirecTV is back in-house Closed The contract with TPG, a private equity company that was first announced in February. Under their agreement, the TPG will own 30% of the spin-off and the mobile giant will own 70%. As a company, DirecTV will no longer operate under AT & T and will own and operate AT & T TV and U-verse video services under a single brand known as “”.DirecTV stream“We will debut later this month. With the new spin-off, customers are said to not even feel the transition. Streaming services will continue to be available and subscribers will not be blinded by hidden charges.

AT & T received $ 7.1 billion in cash for sale, which is only a small portion of the $ 49 billion initially paid when purchasing DirecTV in 2015. Former CEO of AT & T at the time, Randall Stephenson Said Combining DirecTV with AT & T, “it’s all about providing customers with great video entertainment options integrated with mobile and high-speed Internet services.”according to Los Angeles Times, AT & T has since lost 40% of DirecTV’s original subscribers, and in the second quarter of 2021, DirecTV reported that it had 15.4 million premium video subscribers.

Telecom giant Trying to offload DirecTV has been on DirecTV since at least 2019, but nothing specific has been announced until the beginning of the year. This transaction does not include the HBO Max streaming service. The HBOMax streaming service will be another part of the company. WarnerMedia spin-off.. May, AT & T Announcement A $ 43 billion deal in which the WarnerMedia division merges with Discovery. It is expected to close in mid-2022, four years after AT & T completes its $ 85 billion acquisition of Time Warner. Both the deal and this DirecTV spin-off will help AT & T’s debt-cutting efforts.As deadline Over the past few years, we have taken several steps, including the sale of assets, to reduce the debt gained from large-scale multimedia acquisitions.

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https://www.engadget.com/att-direc-tv-spinoff-051610804.html?src=rss AT & T finalizes DirecTV’s spin-off to its company

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