AT&T [NYSE: T] is approaching a deal to sell a significant minority stake in its DirecTV, AT&T TV Now, and U-Verse business to TPG. Additionally, A deal could come out by the end of this week. The agreement will value the AT&T organizations around $15 billion. AT&T purchased DirecTV in 2015 for $48.5 billion with debt the amount sums up to $67 billion.
In the past several years, the company has directed away from conventional pay-TV as it has revolved its media system around HBO Max. DirecTV, U-Verse, and AT&T TV Now are based around a linear TV business of transmission and link networks that is losing a huge number of subscribers every year.
AT&T lost almost 3 million video clients a year ago. The company also took a $15.5 billion impairment charge because of the organization’s re-assessment of its domestic video business. A sale will give AT&T will extra money to clear away its debt. The debt remains at about $150 billion and has reliably declined through the previous year.