AT&T sells remaining 70% DIRECTV stake to TPG for ~$7.6 billion in cash through 2029

AT&T INC.

Total expected cash payments of ~$7.6B: $1.7B pre-tax H2 2024, $5.4B after-tax in 2025, $0.5B final payment in 2029.
DIRECTV to make special distribution of at least $1.625B before March 31, 2025; AT&T receives ~70%.
Transaction expected to close in H2 2025, subject to regulatory clearance and customary closing conditions.
AT&T has received $19B in cash distributions from DIRECTV since initial TPG deal in 2021.
Sale allows AT&T to focus on wireless 5G and fiber connectivity and strengthen balance sheet.

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