AT&T Inc. is nearing a deal to sell a significant stake in DirecTV to private equity firm TPG, marking a long-sought exit from the struggles of managing a declining satellite TV business.

A deal would value DirecTV at about $15 billion, according to people with knowledge of the matter. That’s a fraction of the $48.5 billion AT&T agreed to pay for the business in 2014.

If Dallas-based AT&T and TPG are able to reach a deal, an announcement could come as soon as this week or next, the people said, asking not to be identified because the information is private. TPG has offices in Fort Worth and San Francisco and various other cities globally.

The talks could still fall apart and end without a deal, the people said.

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Source: Dallas News

By: Bloomberg Wire