AT&T: agreement to sell its stake in DirecTV

(CercleFinance.com) - AT&T has reached an agreement to sell its majority interest in DirecTV Entertainment to TPG, which holds the minority interest, a transaction for which it is to receive approximately $7.
6 billion in cash from DirecTV and TPG.

The telecom operator is to receive $1.7 billion in quarterly pre-tax distributions in the second half of 2024, including the expected third-quarter distribution, which is not part of the agreement.

The acquirer must then pay AT&T $5.4 billion in after-tax cash distributions and other tax-free payments in 2025, followed by $0.5 billion in final after-tax revenue payments in 2029.

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