AT&T is close to selling a large minority stake in DIRECTV, U-verse and AT&T TV Now to equity firm TPG, according to a report by CNBC which cites “people close to the matter.”
The financial channel says a deal could be announced as early as this week, and it will value the AT&T businesses for approximately $15 billion. AT&T purchased DIRECTV for $49 billion in 2015 which would suggest the telco is prepared to take a large loss on the satellite TV service. But the size of TPG’s ownership stake is unclear at this point.
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For AT&T, the sale would help the company eliminate debt and possibly allow another entity to run the TV businesses. AT&T executives have repeatedly said they believe the traditional TV industry is in decline.
While the CNBC report says AT&T TV Now would be part of the deal, the streaming service actually merged with AT&T TV last month. The news outfit may be confusing the two.
CNBC said AT&T could not be reached for comment and TPG refused to comment.
Who Is TPG?
TPG, which is headquartered in San Francisco and Fort Worth, Texas, was founded in 1992 by three businessmen, William Price III, James Coulter and David Bonderman (now a part owner of the Boston Celtics and the Seattle Kraken, the new NHL expansion team). The company’s mission is to invest in struggling (but potentially viable) companies that lack the capital and/or resources to execute their visions. TPG recoups its investment when the company turns things around and, in some cases, is sold to another company. (Think Dish.)
Over the years, the firm has invested in scores of companies in every conceivable category, including film (MGM Studios), TV (Univision), Internet and digital media (Spotify, Vice, Survey Monkey) and technology (Hotwire, McAfee, Seagate). There’s no doubt that TPG’s management team has an understanding of how entertainment and technology intersect in today’s world.
To learn more about TPG, click here.
The TV Answer Man will continue to monitor this story and report back here if and when anything changes. Until then, happy viewing, and stay safe!
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— Phillip Swann
“DEAR” William Price III, James Coulter and David Bonderman (U ASS A)
ARE YOU PPL
N
U
T
Z ???????????????
YOU would NEVER get to be as “successful”{ IF you FKED up buying a lawn turd LIKE DIRECTV ///ESPECIALLY AFTER AT&T SCREWED it into the Gound..
AND BTW
CHARLIE doesn’t have to
“BUY” ANYTHING from you !!
HE can just WAIT until DIRECTV DIES (as it is doing NOW and PICK UP who ever is left…AND ORBY is TOAST TOO)
…I HAVE A GREAT DEAL on a BRIDGE IN NEW YOUR I can make you instead…WAKE F FK UP !!!!!!!!!!!!!!!!!!!!!!!!!!!!!
do NOT contact me with unsolicited services or offers
Does this mean we would lose Directv service.
if you are complacent enough to believe that Directv or ANY satellite service is here to serve YOU then YOU obviously RODE the SHORT BUS to school…THEY are in this for O-N-E reason ONLY…to MAKE money OR to KEEP more of what they have thru “loss”…WAKE UP and GET OFF the bus because they WILL throw you off of it sooner then you think when AT&T files BANKRUPSY ”
out of the blue”.
might be time to jump to Dish now, beat the crowd…
If you think Dish will eventually, take over, would it be wise to jump now, or wait????
DISH will be the “last man standing” after AT&T files for bankrupsy…DISH is all in to 5 G so SATELLITE TV is for all effects TERMINAL…