TPG buys DirecTV from AT&T

TPG, a major private equity firm, has completed its $7.6 billion purchase of the remaining 70% stake in DirecTV from AT&T, officially ending the telecommunication company’s media ownership.

The deal, announced last fall, was not dependent on DirecTV’s now-failed plan to merge with Dish Network.

AT&T, once a major media player after acquiring DirecTV in 2015 for $49 billion and Time Warner in 2018 for $85 billion, no longer owns either. It aims to focus solely on connectivity.