AT&T exits showbiz, sells remaining stake in DirecTV to private equity firm TPG

The deal ends the communications giant’s links to the entertainment industry (AP)

AT&T is selling its majority stake in DirecTV to private equity firm TPG Partners for 7.6 billion dollars (£5.68 billion), ending the communication giant’s remaining ties to the entertainment industry.

The firm said in a filing with the US Securities and Exchange Commission that it will receive payments from TPG and DirecTV for its remaining 70% stake in the satellite TV company.