AT&T is nearing a deal to promote a considerable minority stake in its DirecTV, AT&T TV Now and U-Verse enterprise to private-equity agency TPG, in accordance with individuals acquainted with the matter.
A deal might be introduced as quickly as this week, mentioned the individuals, who requested to not be named as a result of the discussions are personal.
The deal will worth the AT&T companies round at $15 billion. AT&T acquired DirecTV in 2015 for $48.5 billion.
AT&T has moved away from conventional pay-TV up to now a number of years because it has centered its media technique round HBO Max. DirecTV, U-Verse and AT&T TV Now are based mostly round a linear TV enterprise of broadcast and cable networks that’s dropping hundreds of thousands of subscribers every year.
AT&T misplaced almost 3 million video prospects final 12 months and took a $15.5 billion impairment cost as a result of firm’s re-evaluation of its home video enterprise.
TPG declined to remark. AT&T couldn’t be instantly reached for remark.
This story is growing.