AT&T and TPG Capital have officially closed their transaction and established a new company named DirecTV. This new company will own and operate the DirecTV, AT&T TV and U-verse video services that were previously owned and operated by AT&T.

Did AT&T sell DirecTV?

Six years after AT&T acquired the satellite TV giant in a $67 billion deal, the company on Monday was officially spun out as a standalone video-centric entity in a deal backed by private equity firm TPG.

Is AT&T getting rid of DirecTV 2020?

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. The AT&T brand will be stripped away as part of DirecTV's efforts to simplify its message and repair its reputation among consumers.