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.
Top line
The new venture, in which AT&T will retain a majority stake, moves AT&T even further away from traditional pay TV as it leans into streaming television and its wireless business.
The new company, which will be called DirecTV, will separate AT&T’s shrinking pay TV business from its less-than-a-year-old streamer HBO
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