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AT&T no longer owns DirectTV, officially spunoff into it's own company.
- Thread starter ContractHolder
- Start date
I kinda feel like the fact that they only sold 30% of their stake but somehow that means it's "off their balance sheet" and "independent" is part of why all of the rest of us hate business people
AT&T's ownership was the definition of stagnation. They acquired DirecTV literally only to use their name for their streaming service. They essentially froze development of everything else, created pointless pet-projects for AT&T teams without work, and abandoned DirecTV's core business. They gutted sweng, and culled almost everyone with decent knowledge of the infrastructure and/or software stack. I was personally impacted by the mess that was the acquisition.
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Cross your fingers that they include it with a Madden purchase later this month (in extremely limited quantities).
AT&T's whole adventure over the last decade had been fascinating. They basically tried turning themselves into Comcast, a vertically integrated provider of everything from the pipes to the service to the content going through them, and that…actually didn't work out, somehow? I get that they took on a ton of debt to make it happen and that made investors skittish. But man, it feels like this could have been a way different story if they picked a better target than, like, a declining satellite TV provider.
Not as bad as Tumblr being sold to Yahoo for 1.1 billion in 2013 and then it was sold to Wordpress in 2019 for around 3 million.
As a pure ratio, sure. But I'd rather lose $1.997 billion than $73 billion.
The $81B transaction mentioned in the OP was Time Warner, not DirecTV. DirecTV was "only" $49B, so they lost about $40B on it. Combined, shareholders are estimated to have lost $50B on the two deals.
