07:03 AM EDT, 09/30/2024 (MT Newswires) -- AT&T ( T ) has reached a deal to sell its remaining 70% ownership in DirecTV to TPG (TPG), the companies said Monday.

TPG said it will invest in DirecTV through its private equity platform TPG Capital.

AT&T ( T ) anticipates to receive roughly $7.6 billion in cash from DirecTV through 2029, the companies said.

The transaction is expected to close in H2 next year, according to the firms.

DirecTV operated as a joint venture between AT&T ( T ) and TPG since 2021.

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