TPG in exclusive AT&T talks over minority DirecTV sale

26 Jan 2021

Private equity firm TPG has entered into exclusive talks to acquire a minority stake in AT&T’s satellite TV division, DirecTV, people familiar with the matter have informed Reuters. The exact price TPG is willing to pay has not been divulged, but sources said the deal could value DirecTV at more than USD15 billion – a fraction of the sum AT&T paid for the asset six years ago. If the negotiations conclude successfully, a deal could be announced in the coming weeks, the news agency adds.

According to TeleGeography’s GlobalComms Database, in May 2014 AT&T entered into a definitive agreement to acquire US and Latin American satellite TV provider DirecTV in a stock-and-cash transaction with a total equity value of USD48.5 billion, and a total transaction value of USD67.1 billion, including DirecTV’s net debt. In late July 2015 the deal was approved by the Federal Communications Commission (FCC) and completed shortly thereafter.

United States, AT&T, DirecTV Group, TPG Capital