Thread regarding AT&T layoffs

Feb. 25, 2021 4:24 PM ETAT&T Inc. (T)By: Jason Aycock, SA News Editor15 Comments
AT&T (NYSE:T) is spinning off DirecTV as part of a deal with private-equity firm TPG Capital.
AT&T and TPG will establish a company named DirecTV to own and operate AT&T's video business unit (comprising DirecTV, AT&T TV and U-verse).
The deal implies an enterprise value for new DirecTV of $16.25B, and after the transaction, AT&T will own 70% of common equity and TPG will own 30%.
AT&T expects to get $7.8B from the transaction.
Not moving over in the deal: Any of HBO Max or AT&T's regional sports networks. AT&T is also keeping network assets from U-verse.
AT&T stock is up 0.4% after hours.
Reporting earlier in the week had the two companies close to a deal on the video unit. AT&T acquired DirecTV in 2015 for $48.5B.
A conference call about the deal is coming at 5 p.m. ET.