AT&T Gets FCC's OK For $16.3B Deal Spinning Off DirecTV

By Christopher Cole (July 20, 2021, 7:28 PM EDT) -- AT&T Inc. recently got the green light from the Federal Communications Commission to spin off DirecTV and two streaming services into a separate company in a private equity-backed deal worth $16.25 billion.

The agency said last week that it does not expect any "adverse effect on market concentration or likely competitive or public interest harms" from the deal. Under the agreement, AT&T will retain 70% control of the newly formed company, DirecTV Entertainment Holdings LLC, with TPG Capital owning the rest.

California-based TPG's recent divestiture of media assets means it no longer owns any "significant interests" in video programming or distribution...

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