AT&T's former streaming services are now available under a new brand by DirecTV: their newly launched streaming platform.
AT&T Spins Off DirecTV Stream: A New Focus on Connectivity and Content
In a significant move, telecommunications giant AT&T has announced the separation of its streaming assets into a new entity, now known as DirecTV Stream. The decision aligns with AT&T CEO John Stankey's investment and operational focus on connectivity and content.
The new company, led by former Charter Communications CEO Tom Rutledge, will manage the video business for optimum value creation. Its strategic focus is on the pay-TV industry as it continues to evolve, aiming to provide greater focus, flexibility, and resources to succeed in the long term and deliver on its commitments.
DirecTV Stream will bring together all video streaming services previously launched by AT&T, excluding HBO Max and regional sports networks. This move is expected to clear a path for DirecTV to absorb all of AT&T's streaming assets, including AT&T TV, which is now part of DirecTV, though it remains unclear whether DirecTV Stream will be a completely revamped product or just a renamed one.
The new company will operate the U.S. video business separately to meet the needs of a high-quality customer base and manage the business for profitability. TPG Capital will retain a 30% ownership stake, while AT&T will hold a 70% stake.
The separation from AT&T comes at a time when AT&T has considerable debts accumulated over years of customer losses. The move is seen as a step towards streamlining the company's operations and focusing on its core business.
Notably, DirecTV Stream retains the exclusive rights to the popular streaming entity NFL Sunday Ticket. However, HBO Max and regional sports networks are subject to a pending WarnerMedia-Discovery deal.
As for pricing information for DirecTV Stream, it has yet to be announced. The new product under DirecTV is called DirecTV Stream, and with its official separation from AT&T, it marks a new chapter for both companies. The separation deal was executed by AT&T in collaboration with TPG Capital.
In a February press release, AT&T announced the separation of its streaming assets into a new entity, signalling a shift in the company's strategy and a commitment to a more focused approach in the realm of connectivity and content.
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