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Report: AT&T to Sell Large Minority Stake in DirecTV and U-Verse to Private Equity Firm

Ben Bowman
Ben Bowman is the Content Director of The Streamable. He cut the cord in 2009. He roots for all Detroit sports and is a fan of Martin Scorsese, Steven Spielberg, Edgar Wright, Paul Thomas Anderson, Billy Wilder, Buster Keaton, and the Coen Brothers. Ben streams on an Apple TV.
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Ben Bowman

AT&T is nearing a deal to sell a substantial minority stake in its DirecTV, AT&T TV, and U-Verse business to private-equity firm TPG, according a report by CNBC.

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 been pivoting away from traditional pay-TV to focus more on HBO Max in recent years. DirecTV, U-Verse and AT&T TV are based around a linear TV business of broadcast and cable networks that has seen a loss of nearly 3 million video customers last year.

A deal for DirecTV has been long rumored, as AT&T has looked for ways to pay down debt for the company to focus on HBO Max and 5G. At one point they had been linked to Dish Network for a merger, but a standalone sale seemed like a more likely route.

The company has previously sold their stake in Hulu in 2019 and Crunchyroll in December 2020.

Ben Bowman
Ben Bowman is the Content Director of The Streamable. He cut the cord in 2009. He roots for all Detroit sports and is a fan of Martin Scorsese, Steven Spielberg, Edgar Wright, Paul Thomas Anderson, Billy Wilder, Buster Keaton, and the Coen Brothers. Ben streams on an Apple TV.
Read full bio ›
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