A private equity firm is in advanced discussions to acquire a minority stake in satellite television service DirecTV, according to a report.
On Friday, business news wire Reuters reported TPG Capital had “entered into exclusive talks to acquire a minority stake” in the AT&T-owned pay TV service.
Reuters was unable to get a precise purchase price, but sources reportedly told the news outlet that the acquisition could value DirecTV at $15 billion — far less than what AT&T paid for the satellite giant in 2014.
DirecTV has been losing subscribers every year since AT&T acquired it, and the phone company has been desperately seeking a way to rid itself of the satellite television provider for much of the last year.
AT&T is hoping to cut its losses by investing more focus toward its streaming television offerings, including HBO Max and AT&T TV, while building out its next-generation 5G wireless network.