AT&T is divesting its 70% stake in DirecTV to TPG Partners for $7.6 billion, marking a significant shift away from the entertainment sector.
The sale includes $1.7 billion to be received this year, followed by $5.4 billion next year, with the balance due in 2029.
This move allows AT&T to concentrate on its core business of wireless 5G and fiber connectivity, strengthening its balance sheet.
The transaction is set to finalize in the second half of 2025, concluding AT&T's involvement in satellite TV.
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