Competition Policy International

AT&T will offload its DirecTV operations in a deal with private equity firm TPG that values the business at about US$16 billion, a fraction of what the telecom giant paid for the satellite-TV company in 2015. The move caps years of AT&T deliberating over what to do with DirecTV, a pay-television pioneer that had increasingly become a burden as it hemorrhaged customers. As part of the agreement, a joint venture with...