AT&T (NYSE:T) is exciting the entertainment business and selling its remaining 30% stake in DIRECTV to Dallas based private equity group TPG. The deal is expected to bring in approximately $7.6 billion in cash with payments spread out through 2029.

AT&T agrees to sell remaining stake in DirecTV to TPG for $7.6B, marking its exit from satellite TV business.

AT&T Inc. said it had agreed to sell its majority stake in DirecTV to private equity firm TPG Inc. for $7.6 billion in cash.

AT&T said on Monday it would sell its entire 70% stake in satellite TV provider DirecTV to private equity firm TPG for $7.6 billion, exiting a business marked by declining distributions for the telecom operator.

AT&T has already sold 30% of the DirecTV business to the TPG firm, and will sell the rest of the company for $7.6 billion.

AT&T exits entertainment industry with a $7.6 billion sale of its majority stake in DirecTV to private equity firm TPG

TPG has agreed to acquire the remaining 70 percent stake in DirecTV from AT&T that it does not already own.

AT&T is selling its majority stake in DirecTV to private equity firm TPG Partners for $7.6 billion, ending the communication giant’s remaining ties to the entertainment industry.

AT&T announced on Monday to sell its remaining 70% stake in DirecTV to the California private equity firm TPG totaling billions.

AT&T is selling its remaining 70% stake in DirecTV to private equity firm TPG a decade after agreeing to buy the satellite TV provider.