AT&T Agrees to Sell DirecTV Holding to TPG for $7.6 Billion (1)

AT&T Inc. had agreed to sell its majority stake in DirecTV to private equity firm TPG Inc. for $7.6 billion in cash.

The payments include $1.7 billion in pre-tax quarterly distributions in the second half of this year and $5.4 billion in after-tax distributions in 2025, AT&T said in a filing Monday. Final payments of $500 million will be made in 2029.

AT&T is selling its stake in DirecTV as the satellite television company is holding its own advanced talks to merge with rival Dish in a deal that would create the largest US pay-TV provider. DirecTV is in talks ...