(Reuters) – Buyout firm TPG Capital and AT&T Inc said on Thursday they will form a new company, DIRECTV, to operate the company’s U.S. video business unit.
AT&T’s divested U.S. video business has an enterprise value of $16.25 billion, the companies said.
After the deal closes in the second half of 2021, AT&T will own 70% of the common stock of the company, while TPG will own the rest, the statement said.
(Reporting by Niket Nishant in Bengaluru; Editing by Arun Koyyur)
