AT&T sells remaining DirecTV stake for $7.6 billion, DirecTV to acquire Dish Network

DALLAS — AT&T is selling its remaining 70% stake in DirecTV for $7.6 billion to TPG, marking its exit from the entertainment sector. This deal comes after AT&T's 2021 sale of a 30% stake in DirecTV to TPG following years of subscriber losses due to the rise of streaming services like Netflix. AT&T originally purchased DirecTV in 2015 for $48.5 billion in hopes of expanding its video subscriber base.

AT&T's divestment will enable the company to focus on its core operations in wireless 5G and fiber connectivity, which have become the telecom giant's primary business strategy. The sale is expected to close in the second half of 2025.

DirecTV, meanwhile, announced its acquisition of Dish Network from EchoStar for $1, assuming $9.8 billion in debt. Dish's Sling TV streaming service is included in the deal.