AT&T Spins Off Pay TV Business As It Doubles Down on Streaming

Private equity firm TPG will take 30% stake in new venture

AT&T will retain a majority stake in the new venture. DirecTV, kundoy/Getty Images

AT&T is spinning off its traditional pay TV business, which includes the DirecTV, AT&T TV and U-Verse video services, into a separate company that will be jointly operated by AT&T and the private equity firm TPG, the companies said today.

@kelseymsutton Kelsey Sutton is the streaming editor at Adweek, where she covers the business of streaming television.