AT&T Spins Off Pay TV Business As It Doubles Down on Streaming

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AT&T is spinning off its traditional pay TV business, which includes the DirecTV, AT&T TV and U-Verse video services, into a separate company that will be jointly operated by AT&T and the private equity firm TPG, the companies said today. Top Line The new venture, in which AT&T will retain a majority stake, moves AT&T…

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