AT&T has formally spun off DirecTV, which is now its personal enterprise

Picture Illustration by Thomas Trutschel/Photothek by way of Getty Photos

AT&T introduced earlier this 12 months that it might spin its video properties DirecTV, AT&T TV, and U-verse into a brand new firm it might co-manage with non-public fairness agency TPG Capital. That transaction is lastly full, and the companies will now function as a single firm beneath the identify DirecTV.

As outlined earlier this 12 months when the corporate initially introduced plans to off-load its struggling DirecTV enterprise, AT&T will retain a 70 % stake within the firm, whereas TPG will take a 30 % stake. The telecom big stated the deal for which it acquired $7.1 billion in money would assist repay its huge debt, with the corporate projecting it will probably put a cease to the bleeding by the tip of 2023.

A part of that debt is owed due to AT&T’s a…

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