The move will boost the TV operator's position, which like its peers, had been losing subscribers to video streaming services such as Netflix, Prime Video and Apple Inc'sDirecTV said as a part of the deal, customers who were previously AT&T satellite, streaming or IP video subscribers will get to keep their video service and any bundled wireless or internet services, including HBO Max.
AT&T in February agreed to sell about a third of its stake in DirecTV to TPG Capital in a deal that valued the business at $16.25 billion, well below the $68 billion AT&T had paid for the asset less than six years ago. AT&T has been under pressure to trim its swelling debt pile as it invests more in 5G and other wireless services.Reporting by Tiyashi Datta in Bengaluru; Editing by Shinjini GanguliSubscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.
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