AT&T Sells 70% Stake In DirecTV For $7.6 Billion, Exits Satellite TV Business to Focus On Core Wireless Business and Fiber Operations

AT&T announced it will sell its 70% stake in DirecTV to private equity firm TPG for over $7 billion, marking its exit from the satellite TV business. In 2021, AT&T entered a joint venture with TPG, which invested over $1 billion for a 30% stake in DirecTV. The agreement included a three-year restriction on selling its stake, which expired on July 31. The deal allows AT&T to sharpen its focus on its wireless and fiber operations and improve its balance sheet.