AT&T closes spin-out of DirecTV, video services units

  • AT&T (NYSE:T) has closed its transaction unloading DirecTV and its AT&T TV and U-verse video services.
  • The deal with TPG Capital officially creates the new DirecTV company, which will own the services previously operated by AT&T. At the end of Q2, the new DirecTV had about 15.4M premium video subscribers.
  • At closing, AT&T received $7.1B in cash ($7.6B net of about $470M cash on hand), and transferred about $195M in debt from the video business.
  • In the deal, AT&T contributed its video business unit to the new entity in exchange for preferred units along with 70% interest in the common units of DirecTV, while TPG contributed about $1.8B in cash to DirecTV in return for preferred units and a 30% interest in common units.
  • Not included in the deal: HBO Max and the regional sports networks (which are part of their own transaction with Discovery); Latin American operation Vrio, on its way to new owner Grupo Werthein; U-verse network assets; and AT&T's investment in Sky Mexico.

    For this year AT&T 's revenue will be around 176.57 billion USD. This is according to the average of the analysts' estimates. This is slightly more than 2021's revenue of 171.76 billion USD.

    Historical revenues and results AT&T plus estimates 2021

    fundamantele data

    The analysts expect for 2021 a net profit of 23.81 billion USD. For this year the majority of the analysts, consulted by press agency Thomson Reuters, expects a profit per share of 3.37 USD. The price/earnings-ratio therefore equals 8.31.

    Huge dividend AT&T

    For this year most of the analysts expect a dividend of 1.99 USD per share. Thus the dividend yield equals 7.1 percent. The average dividend yield of the telecommunications companies is an attractive 5.93 percent.

    Based on the current number of outstanding shares AT&T 's market capitalization is 203.27 billion USD. 1

    Historical stock prices AT&T

    financial analysis at&t

    On Thursday, the stock closed at 28.02 USD.

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