https://www.cnbc.com/2021/02/23/att-nears-deal-with-tpg-to-sell-large-minority-stake-in-directv-u-verse.html
17 replies (most recent on top)
According to higher ups, all AT&T video services are going to be rebranded to DTV and DTV will become a private independent company.
They sold a minority stake so that TPG also has to assume some debt. That also means all video discounts for any AT&T branded products just go away , meaning that’s another perk removed with the “market alignment”. And lo and behold, ole slash and burn Morrow will be the DTV CEO. So, let’s run this down: loss of flexible PTO for those who are 20+ yrs of service, loss of retirement benefits supplement, compressed pay bands to stagnate employee pay as you progress in tenure, easier system for pushing folks out the door under the guise of “continuous improvement, billions to lobbyists for political favors and influence, and now loss of video discounts is coming, considered a “perk” for working for an “ethical” company that cares about you and woke politics. Give me an effing break. I certainly hoo bargained employees lean hard on their Union representation because they are gonna get screwed. Morrow is all about super lean running of business, so I think some big layoffs are coming in the next 2 yrs. Meanwhile, AT&T gets to blame it on TPG and continue to treat employees worse and worse. FUATT
Oh yeah, DirecTV in the news mean whiners get a chance to repeat their complaining for the 80th time.
how can you be in so much debt and buy a company and sell it for so much less that what you get is only a fraction of that debt. how can people get rewarded for this c-ap. is running up debt good now. I guess the central bank likes it so you get rewarded. white is black and black is white i guess we really are though the looking glass.
I don't see them paying down debt, this cash will be needed to pay for the spectrum acquired at recent auction.
I meant 15 billion instead of million. AT&T is still majority owner.
Honestly, a bad deal for both companies. ATT will lose its big initial investment in DTV. The new owner will have a hard time turning this ship around.
I'm amazed they are getting 15 million for selling 49% of Directv, at least that's what I'm hearing. On the other hand, 15 million is a fraction of the debt they owe, and now they only get half the profits coming back. This is still a train wreck.
Well, I guess DTV employees will be rebadged into some new company name. So it will be like you can stay for the half of what you want or see yah later. Hopefully they will let them stay for a year in the deal.
Watch out folks,looks like Directv could be on a rebound to perform well!I have been seeing more installations so far this first quarter.There is about 45 to 50 techs in our shop and nobody is bidding on work,the work is there!
$15 Billion won’t be used to retire debt!!
How long before us DTV Techs get turned into 1099 gig workers bidding against one another for the few jobs that trickle into the shop each day?
"Hi, I'm your DirecTV Tech to install your service and here too is your Doordash order from Subway. By the way, need a ride anywhere when I finish your dish? We do Uber also"
Here comes the backseat CEO's, who have been so successful not running anything.
To whom do we attribute this accomplishment. Purchase (inclusive of debt) closer to 67B, sell for 15....oh the things we learned in kindergarten
Brilliant plus, and AT&T included a portion of U-verse. A marketing fiasco. U-verse: fiber optics or TV or VOIP phone, or internet??
Sold U-verse but not clear if fiber to node or premises
Brilliant, buy for $49 Billion and sell for $15 Billion!!
This will end up with more layoffs at DTV..... AT&T leadership needs to be fired immediately. What they have done (especially Stinkey) is criminal .... Derovasian get ready to be fired as well as other arrogant leaders at DTV.