On Monday, AT&T completed its spinoff of DirecTV, taking $7.1 billion in cash and 70% interest in the new DirecTV. The new DirecTV is made up of AT&T’s three TV distribution businesses: the namesake satellite TV service, the legacy U-verse and the streaming offer AT&T TV. “It’s a new day and a new DirecTV,” Bill Morrow, DirecTV chief executive, said in an interview. Now the three former AT&T television platforms — DirecTV, U-Verse and the streaming service AT&T TV — have about 15.4 million subscribers, according to the company. It launched various versions of a streaming service — DirecTV Now, AT&T Now and AT&T TV, all of which sputtered in the market.

Source: Los Angeles Times August 02, 2021 20:13 UTC