AT&T to sell controlling stake in DirecTV to TPG for $7.6 billion in cash payments through 2029
AT&T Inc. said Monday it has agreed to sell its 70% stake in satellite-TV company DirecTV Entertainment Holdings LLC to its partner, private-equity firm TPG Inc., for about $7.6 billion in cash payments through 2029. The move allows AT&T to fully exit the entertainment industry and focus on its wireless 5G and fiber connectivity business.