AT&T finalizes spinoff of DirecTV into its own company

DirecTV is now its own company again after AT&T closed the deal with private equity firm TPG, which it first announced back in February. Under their agreement, TPG would own 30 percent of the spinoff, while the mobile giant will retain a 70 percent ownership. As its own company, DirecTV will no longer operate under AT&T and will own and run the AT&T TV and U-verse video services under a single brand known as “DirecTV Stream” debuting later this month. The new spinoff says customers won’t even feel the transition: The streaming services will continue being available and subscribers won’t be blindsided by hidden fees.

AT&T received $7.1 billion

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