AT&T Inc. has announced an agreement to sell its majority stake in DirecTV to private equity firm TPG Inc. for $7.6 billion in cash. According to a regulatory filing by AT&T, the payment structure includes $1.7 billion in pre-tax quarterly distributions for the second half of this year and $5.4 billion in after-tax distributions set for 2025. A final payment of $500 million is scheduled for 2029.
DirecTV, originally founded in 1994 by Hughes Electronics, is currently owned by both AT&T and TPG, and it serves approximately 11 million customers. For further details, please refer to the
full article.