Union Hints It Might Not Oppose Satellite-TV Merger -- Market Talk
Top Midday Stories: AT&T Sells 70% DirecTV Ownership Stake to TPG; FTC Bars Hess CEO From Joining Chevron Board
AT&T (T.US) sells its stake in DirecTV to TPG (TPG.US) for $7.6 billion.
AT&T (T.US) announced on Monday that it will sell 70% of satellite television provider DirecTV's shares to private equity firm TPG (TPG.US) for $7.6 billion. Data shows that AT&T acquired DirecTV in 2015, and in 2021 signed a joint venture agreement with TPG, with TPG contributing approximately $1.8 billion to own 30% of DirecTV valued at about $16 billion at the time. AT&T stated that after the sale, the company will focus on its core wireless and fiber optic connectivity business, which will help improve its balance sheet.
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DirecTV will acquire Echostar Communications (SATS.US)'s Dish, after the merger will become the largest pay tv service provider in the USA.
DirecTV and Dish have agreed to merge, creating the largest pay TV provider in the United States.
Wolfe Research Adjusts Price Target on AT&T to $24 From $23, Maintains Outperform Rating
AT&T Is Getting Out of the TV Business
AT&T Gets Major Exit Cue As DirecTV Clinches Dish Deal
AT&T's DirectTV Sale Clears Path for Dish Deal -- Market Talk
AT&T Sells Stake in DirecTV. Why Its Stock Is Rising. -- Barrons.com
AT&T Sells DirecTV Stake to TPG for $7.6 Billion and DirecTV Announces Merger With Dish
RBC Capital Maintains AT&T(T.US) With Hold Rating, Raises Target Price to $22
Market Chatter: DirecTV to Reportedly Acquire Dish
EchoStar Gains as DirecTV and Dish Merge to Create Largest U.S. Pay-TV Provider
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Express News | Directv to Acquire EchoStar's Video Distribution Business, Including Dish TV and Sling TV
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DirecTV Agrees to Merge With Satellite Rival Dish -- WSJ
Press Release: DIRECTV to Acquire EchoStar's Video Distribution Business, Including DISH TV and Sling TV