Deals
AT&T Is Close to Sale of Major DirecTV Stake to TPG
Photographer: Patrick T. Fallon/Bloomberg
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AT&T Inc. is nearing a deal to sell a significant stake in DirecTV to private equity firm TPG, marking a long-sought exit from the struggles of managing a declining satellite TV business.
A deal would value DirecTV at about $15 billion, according to people with knowledge of the matter. That’s a fraction of the $48.5 billion AT&T agreed to pay for the business in 2014.