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After first announcing its intention to throw in the pay TV towel in February, AT&T has officially offloaded DirecTV, AT&T TV and U-verse.
The connectivity company said today that it had closed on the previously announced spinoff of the company’s satellite, streaming and IP video businesses into a separate video company.
The spun-off company, which includes the DirecTV, AT&T TV and U-verse video service, is jointly owned by AT&T and the private equity firm TPG, with AT&T retaining a 70% stake in the company.