DirecTV Stream Folds Old AT&T Services Under One Umbrella

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Image of article titled DirecTV Launches New Streaming Service For All Older AT&T Streaming Services

Picture: DIRECTV

DirecTV officially yarn from below AT&T, cementing a split first announced in February and paving the way for the satellite TV company to absorb all of AT&T’s streaming assets.

The case was executed by AT&T in collaboration with TPG Capital, the private equity arm of global asset firm TPG, and comes six years after AT&T acquired DirecTV for $ 67 billion.

Under the banner of its new product, DirecTV Stream, DirecTV will bring together all video streaming services previously launched by AT&T, with the notable exception of WarnerMedia’s HBO Max streaming platform and regional sports networks, both subject to a WarnerMedia. -Discovery pending. OK. The separation agreement will see DirecTV double its commitment to satellite customers and sports fans, with DirecTV Stream retaining the exclusive rights to popular NFL streaming entity Sunday Ticket.

As you may recall, AT&T tried the streaming service with little success. DirecTV now, AT&T now, and AT&T TV all breathed at the launch. AT&T TV is now part of DirecTV, although it is not clear whether DirecTV Stream will be a completely revamped product or simply rebranded. There is also no pricing information at the moment.

AT&T hit a peak in subscription losses in 2019, and although it has since regained some ground on premium video net losses and churn rate, the brand has been blinging customers for years and racking up considerable debts. In one February press release Announcing the split, AT&T said it believed the merger of its streaming assets into a new entity would provide “… greater focus, flexibility and resources to better position the company for long-term success. term and keep its commitment to customers, employees and shareholders.

In a statement at the time, AT&T CEO John Stankey said the decision to create a stand-alone company “aligns with our investment and operational focus on connectivity and content, as well as the business. that are essential to develop our relationships with customers on 5G wireless, fiber optic networks. and HBO Max.

“As the pay television industry continues to evolve, the formation of a new entity with TPG to separately operate the video business in the United States provides the flexibility and dedicated management direction needed to continue to meet to the needs of a high quality clientele and to run the business for profitability. “said Stankey.” TPG is the right partner for this transaction and creating a new entity is the right way to structure and manage the video business for optimal value creation. “

AT&T will retain 70% stake of the new company, TPG retaining 30%.

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