AT&T to sell subsidiaries' minority stake to TPG - report

AT&T has reached an arrangement with TPG private equity firm under which the telecommunications holding would sell a substantial minority stake in its subsidiaries DirecTV, AT&T TV Now and U-Verse, CNBC reported on Tuesday citing sources familiar with the matter.

The deal will value AT&T businesses at around $15 billion. The broadcasting services in question are based around linear TV and cable networks that have been reportedly losing millions of users each year.

The news arrives shortly after AT&T revealed that its consolidated revenue in 2020 decreased by 5.18%, compared to 2019.

Breaking the News / LH