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DirecTV to Become Standalone Company Through AT&T, TPG Capital Pact
Cynthia Littleton Business EditorAT&T has set a deal with TPG Capital that calls for the struggling satellite TV provider DirecTV to become a standalone company in which TPG would own a 30% stake.The sides have been in talks for months as AT&T has sought to find a solution to the problem of DirecTV’s subscriber losses dragging down the company’s overall results. The pact with TPG implies an enterprise value of $16.25 billion, a far cry from the $48.5 billion that AT&T paid for DirecTV in 2015.The deal covers DirecTV, AT&T TV and AT&T’s smaller U-verse MVPD service.
