AT&T on Jan. 27 took a $15.5 billion charge to write down the value of assets in its video division, which includes pay-TV unit DirecTV. The U.S. telecoms firm bought DirecTV in 2015 for $67 billion, including debt.
Private equity firm TPG is in exclusive talks to take a minority stake in DirecTV that could value the satellite service at $15 billion, Reuters reported on Jan. 22. AT&T reported that during the fourth quarter its video unit had a net loss of 644,000 customers. For the full year in 2020, total video connections fell 16% year-over-year to 17 million subscribers.An AT&T logo is seen at a AT&T building in New York City, October 23, 2016.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.