AT&T said today that its sale of a 30 percent stake in DIRECTV to private equity firm, TPG, should be completed in “the next few weeks.”
The telco made the disclosure today in the release of its second quarter report.
AT&T announced on February 25 that it would sell 30 percent of DIRECTV, U-verse and AT&T TV to a private equity firm, TPG, and the two would combine to create a new company to run all three TV services.
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Under the agreement, the new DIRECTV will be governed by a board with two representatives each from AT&T and TPG as well as a fifth seat for the CEO, who will be Bill Morrow, a top AT&T executive. In the February 25 announcement, AT&T said the deal was expected to close in the second half of this year.
The FCC last week approved the transfer of DIRECTV’s satellite licenses to the new company, a final regulatory obstacle before the new DIRECTV can begin. The agency ruled that the sale was “in the public interest.”
And the web site, Streaming Clarity, reported last week that at least one DIRECTV retailer is already promoting something called, ‘DIRECTV Stream,’ which would appear to be a replacement name for AT&T TV. This would make sense. AT&T executives hinted in the sale announcement that the DIRECTV brand would be used for AT&T’s two other TV services, U-verse and AT&T TV.
It’s unknown how the ‘new DIRECTV’ might be different from the existing version of the satellite TV service which has lost millions of subscribers since AT&T purchased it in 2015. However, TPG’s history suggests it might make some bold moves in an attempt to reduce subscriber losses and restore DIRECTV’s image.
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This is a regulatory “END RUN” to allow TPG to “own” the license for the satellite broadcaster (of which without LICENSE, the REST of the company would be even MORE UNLESS) then the “plan” is to sell the “license” to DISH after the smoke (and mirrors) clear and settle down.
The REST is total BS and ANY that know squat about the cancer of AT&T full well know it.
THE FCC “signed off” because they didn’t want to get into the plan of saving a ALREADY DEAD company that will ( as will DISH) be TOTALLY replaced with OUTHER forms of entertainment. THIS is just a brief review of the actuality of the cancer of AT&T…
It is EASY to see the legal manipulation here and as ANY investor knows the first sign of a failing company is to SELL ASSETS. AT&T FKs up EVERYTHIGN it touches (no surprise) and this is JUST the beginning of the END for them.
What will be different if AT&T has the “CONTROLLING” Interest ?
Under the agreement, the new DIRECTV will be governed by a board
with two representatives each from AT&T and TPG
as well as a fifth seat for the CEO,
who will be Bill Morrow, a top AT&T executive.
(2) Reps from the New Company, TPG
(3) Reps from AT&T
AT&T announced on February 25 that it would sell
30 percent of DIRECTV, U-verse and AT&T TV
That means AT&T will CONTROL 70%
and the New Company TPG has ONLY 30%
With AT&T in CHARGE, how will anything Change ?
Also, AT&T said it was going to Eliminate U-verse.
What happened to that plan ?
Trying to STUFF HIGH SPEED Internet, HIGH DEF – 4 K TV
and (2) Phone Lines on a 100 + Year OLD Pair of Copper wires
Doesn’t work well.
As a U-Verse subscriber, I wonder what the new name will be, Directv U-verse…Directv Cable? I wonder if we will get new receiver boxes and remotes with the Directv logo instead of the ATT logo, and upgraded with voice remotes, increase of simultaneous recordings from 4 to 8, and better HD picture processing? Or is it all just a pipe dream?
Pipe Dream
Why do you have the WORSE TV in the first place ?
I have U-Verse. The Worse TV is Xfinity, which I used to have and glad I don’t anymore. Fewer channels at a higher price. Currently, Xfinity charges an extra $15 a month just to get Turner Classic Movies bundled with some sports stations I don’t want. Those are really the only two options in my area and I’ll gladly take U-Verse over Xfinity every time.
FYI, I checked prices on DISH, supposed to be cheaper… NOT!… cable??? horrible reception here streaming?? by the time you get avery channel you want (if you even can) als carte you to death!
After 40 years in this business i could write a book but I have better things to do…DIRECTV, DISH are good as DEAD. They have a TERMINAL disease that the INCOMPATENT MORONS at AT&T
CAN
NOT
“FIX”….
THEY NEED MILLIONS of customers JUST to break EVEN so the MORE they LOOSE the faster they DIE.
Charlie is lookinf for “5G” to save him (not gonna happen) but he will be DEAD before he can enjoy what his EGO can make him.
AT&T is good as HISTORY too.
INCOMPATEN MORONS have run out of gas in a LONG distance marathon they will NEVER recover form.
THEY are in absolute TOTAL DESPERATION mode and when the bottom ( which IS crumbling as I write this) falls out, they will make headlines JUST LIKE SEARS, and K MART and the rest.
GONE…DONE…HISTORY…AT&T will BE NO MORE.
(and missed ONLY by the “short bus” riders that will have to go back to fishing or what ever instead of couch potato land) !…
only complacet idiots keep buying form a SOON to be DEAD company.
THERE will be NO salvation for a technology that is already as GOOD as dead.
You, sir, are a bloody idiot!
If you think everyone is going to switch to streaming and ala carte no matter where they live… GFL!
maybe in 50 to 100 years… BAH, I already have discovered to get only the networks i care about, to stream them, would cost over 100 $ a month, and thats more than I pay Direct, clean signal, every live game no interruptions
Give it up!
Sorry to disappoint you but the only idiot here is you as there was nowhere in my post I mentioned streaming this will still not help satellite survive so just keep hoping or maybe you should try or be TV they’ll love you since they’re already gone with lots of people’s money satellite is dead only a question of time very little time and idiot if it was so profitable was AT&t getting out of it if entertainment is so profitable why is Warner media being sold off it’s a shame your mother dropped you on your head too much
no satellite? no streaming either??? What then? antenna???
Streaming will hang around internet will have its own entertainment as it’s developing now or it’ll be antenna or good old cable satellite is history
Satellite will outlive both you and I… if you can live on antenna, good for you…. I rarely watch fake network TV
Yes NIT WIT what ever you say (another rider of he short bus)…Directv and the cancer of AT&T have already ANNOUNCED years ago they will N-O-T be launching any NEW satellites.
Ergen sats are getting OLD as he is too. Directv sat signals are already in fade out in mild heavy weather and in the northern climate it is NOT unusual to loose Directv for HOURS a day in heavy could cover.
SO you just keep adding pounds to that couch potato a ** f yours fool and I CAN GARUNTEE that your fat useless self will be DEAD LONG before ANY satellite dies (no daubt in any ones mind that you are already an overweight porker and satellite will not save you