AT&T has sold its remaining stake in satellite and streaming pay television provider DirecTV to TPG Capital, the company announced on Wednesday.
The sale involves a 70 percent stake that AT&T retained for itself after spinning out DirecTV into a separate, privately-held company nearly four years ago. The sale also includes U-Verse, a platform formerly known as AT&T U-Verse that is owned by DirecTV.
TPG Capital is now the sole, direct owner of DirecTV and U-Verse. AT&T did not reveal how much TPG Capital paid for its stake in the service. Last year, AT&T said it expected to report an additional $7.6 billion in cash payments once its interests in DirecTV and U-Verse were sold.
The transaction was separate from one involving DirecTV and Echostar, which included Dish Network and Sling TV. That deal fell apart weeks after it was announced. It is not clear if DirecTV and Echostar will pursue another merger now that the AT&T transaction is complete.
