AP Business Writer
AT&T is selling the rest of its stake in DirecTV to private equity firm TPG Partners in an approximately $7.6 billion deal, a move that ends its ties to the entertainment industry. AT&T said in a filing with the Securities and Exchange Commission that it will receive payments from TPG and DirecTV for the purchase of its 70% stake. This includes $1.7 billion in the second half of the year and $5.4 billion next year. The remaining amount will be paid in 2029.
The post AT&T exits showbiz, sells remaining stake in DirecTV to private equity firm TPG for $7.6 billion appeared first on KYMA.
