DirecTV, LLC is an American multichannel video programming distributor based in El Segundo, California. Originally launched on June 17, 1994, its primary service is a digital satellite service serving the United States. It also provides traditional linear television service delivered by IP through its U-verse TV brand and a virtual multichannel video programming distributor service through its DirecTV Stream brand. Its primary competitors are Dish Network, traditional cable television providers, IP-based television services, and other over-the-top video services.
On July 24, 2015, after receiving approval from the Federal Communications Commission and the Department of Justice, AT&T acquired DirecTV in a transaction valued at $67.1 billion.
As of the end of Q1 2021, AT&T had 15.9 million pay-TV customers, including DirecTV, U-Verse, and DirecTV Stream subscribers.
On February 25, 2021, AT&T announced that it would spin-off DirecTV, U-Verse TV, and DirecTV Stream into a separate entity, selling a 30% stake to TPG Inc., while retaining a 70% stake in the new standalone company. The deal closed on August 2, 2021.
On September 30, 2024, AT&T announced that they would sell their remaining 70% stake to TPG Inc. for $7.6 billion. Once the transaction is completed, TPG Inc. will have 100% ownership of DirecTV, splitting the company off from AT&T for the first time since 2015. AT&T and TPG Inc. expect the sale to close in the second half of 2025.
On September 30, 2024, DirecTV announced that it would acquire rival Dish Network from EchoStar in a debt exchange transaction that includes a payment of $1 and the assumption of approximately $9.8 billion in debt. DirecTV stated its intent to support the Dish brand for the foreseeable future, and the company does not currently have plans to make changes to existing Dish operations. EchoStar and DirecTV expect the deal to close in the fourth quarter of 2025, contingent on regulatory approval and bondholders writing off nearly $1.6 billion in Dish-related debt.
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