AT&T, TPG to form new company for U.S. video unit in $16.25 billion deal By Reuters

February 25, 2021 admin Stock News 0

© Reuters. FILE PHOTO: The company logo for Oracle Corp. is displayed on a screen on the floor at the NYSE in New York

(Reuters) – Buyout firm TPG Capital and AT&T Inc (NYSE:) said on Thursday they will form a new company, DIRECTV, to operate the company’s U.S. video business unit.

AT&T’s divested U.S. video business has an enterprise value of $16.25 billion, the companies said.

After the deal closes in the second half of 2021, AT&T will own 70% of the common stock of the company, while TPG will own the rest, the statement said.

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