DirecTV completes spinoff from AT&T, will turn AT&T TV into DirecTV Stream

From CNET: DirecTV's spinoff from AT&T is now official. After first being announced in February, on Monday afternoon DirecTV announced that it has completed the transaction which will see the telecom giant own 70% while private equity firm TPG holds 30%.

The new company, which was referred to as New DirecTV during the spinoff process, will simply be called DirecTV going forward and consist of the DirecTV satellite service, AT&T TV streaming cable offerings as well as U-Verse TV, AT&T's cable television service. The company had 15.4 million customers at the end of the second quarter.

There will be no adjustment to pricing or packages, with the only immediate change being that the AT&T TV streaming service will be rebranded as DirecTV Stream later this month. The name will encompass all of what once was AT&T's many streaming TV platforms, which originally was introduced as DirecTV Now back in 2016 and was recently consolidated into AT&T TV.

View: Full Article