AT&T says it will sell remaining stake in DirecTV

30 Sep 2024, 14:08 by Clyde Hughes · UPI

Sept. 30 (UPI) -- AT&T announced on Monday it will sell its remaining 70% stake in DirecTV to the California private equity firm TPG totaling billions.

While the deal still has to clear customary closing hurdles, AT&T said it is expected to be completed by the second half of 2025. AT&T said the cost of the initial transaction with TPG was $19 billion and expected "an additional $7.6 billion of cash payment" following the agreement to sell its remaining stake.