AT&T Completes DirecTV Spinoff; Satellite Operator Unites Its Internet-Delivered Bundles Under New Brand DirecTV Stream

deadline.com:

AT&T has completed the spinoff of DirecTV into a new entity part-owned by private equity firm TPG, capping a costly six-year adventure in the satellite TV business.The new entity, whose financials will no longer be included on the AT&T balance sheet, unveiled new branding and a new home for its internet-delivered TV packages.

Later this month, DirecTV Stream will become the umbrella for streaming offerings like the one formerly known as AT&T TV Now (originally DirecTV Now).AT&T is getting $7.8 billion in cash in the transaction, including $1.8 billion from TPG and and $5.8 billion from the new DirecTV, which is borrowing that sum.