FCC Approves Transfer of AT&T’s DirecTV Licenses to TPG

The U.S. Federal Communications Commission approved license transfers that AT&T Inc. needs to offload its DirecTV operations in a deal with the private equity firm TPG.

The transfer to DirecTV Entertainment Holdings LLC, to be jointly managed by AT&T and TPG, will have no effect on market concentration, the agency said in an order released Friday. The licenses at stake involve satellite communications.

“We appreciate the FCC’s prompt review and approval,” AT&T said in an email. It said the company will provide an update on the transaction when earnings are reported on July 22.

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