AT&T is nearing a deal to sell a substantial minority stake in its DirecTV and U-verse business to private-equity firm TPG, according to people familiar with the matter.
A deal could be announced as soon as this week, said the people, who asked not to be named because the discussions are private. The deal includes all of AT&T’s streaming assets, including AT&T TV.
The deal will value the AT&T video businesses around at $15 billion. AT&T acquired DirecTV in 2015 for $48.5 billion.
TPG declined to comment. AT&T could not be immediately reached for comment.
This story is developing.