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    AT&T announces deal to spin off DirecTV into new company owned by… AT&T / ArsTechnica · Thursday, 25 February, 2021 - 22:17


Enlarge / AT&T's logo at its corporate headquarters on March 13, 2020 in Dallas, Texas. (credit: Getty Images | Ronald Martinez )

Nearly six years after buying DirecTV for $48.5 billion, AT&T today announced a deal to sell a minority stake in the business unit and spin it out into a new subsidiary.

AT&T said its deal with private equity firm TPG Capital values the TV business at $16.25 billion. A press release said that AT&T and TPG "will establish a new company named DirecTV that will own and operate AT&T's US video business unit consisting of the DirecTV, AT&T TV, and U-verse video services."

AT&T will own 70 percent of the spun-off DirecTV company's common equity while TPG will own 30 percent. DirecTV in its new form "will be jointly governed by a board with two representatives from each of AT&T and TPG, as well as a fifth seat for the CEO, which at closing will be Bill Morrow, CEO of AT&T's US video unit," the announcement said.

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    AT&T may keep majority ownership of DirecTV as it closes in on final deal / ArsTechnica · Monday, 25 January, 2021 - 20:26

A DirecTV satellite dish mounted to the outside of a building.

Enlarge / A DirecTV satellite dish seen outside a bar in Portland, Oregon, in October 2019. (credit: Getty Images | hapabapa )

AT&T is reportedly closing in on a deal to sell a stake in DirecTV to TPG, a private-equity firm.

Unfortunately for customers hoping that AT&T will relinquish control of DirecTV, a Reuters report on Friday said the pending deal would give TPG a "minority stake" in AT&T's satellite-TV subsidiary. On the other hand, a private-equity firm looking to wring value out of a declining business wouldn't necessarily be better for DirecTV customers than AT&T is.

It's also possible that AT&T could cede operational control of DirecTV even if it remains the majority owner. CNBC in November reported on one proposed deal in which "AT&T would retain majority economic ownership of the [DirecTV and U-verse TV] businesses, and would maintain ownership of U-verse infrastructure, including plants and fiber," while the buyer of a DirecTV stake "would control the pay-TV distribution operations and consolidate the business on its books."

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Journée internationale pour l’élimination de la violence à l’égard des femmes
#Toulouse : Appel de Toutes en grève à 18h Place du Capitole.
#Saint-Gaudens : Appel unitaire (la #CNT est signataire) à 12h30 Place Jean Jaurès.

Les manifestations sont déclarées et AUTORISÉEs (pour l’instant) pour venir il faut cocher la première case sur son attestation.

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Mercredi 14 octobre - 18 h 30 - square Charles de Gaulle (métro Capitol)

A l’appel d’ #Act-Up

Depuis de nombreuses années, le gouvernement polonais sous la présidence d’Andrzej Duda et avec le soutien de l’Église catholique se montre de plus en plus répressif et menaçant envers la communauté LGBTI : propos ouvertement LGBTIphobes, arrestations de militantEs LGBTI, création de zones “sans LGBT”.

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