AT&T bought all of DirecTV's satellite operations in 2015 for approximately $ 49 billion, or $ 66 billion including assumed debt. Photo: Matias Delaceoix / Bloomberg News AT&T Inc. agreed to sell its Vrio satellite business in Latin America to the Argentine Grupo Werthein, thus continuing the telecommunications giant's departure from the television business in Dallas.
AT&T bought DirecTV's entire satellite operations in 2015 for about $49 billion, or $66 billion including acquired debt.
Photo: Matias Delaceoix/Bloomberg News
AT&T Inc. said it agreed to sell its Vrio satellite business in Latin America to Argentina's Grupo Werthein, continuing the Dallas telecom giant's move away from the television business.
The sale covers 10.3 million subscribers across 11 countries in the Western Hemisphere, including Argentina, Chile and Colombia, inherited from AT&T's purchase of DirecTV. The wireless carrier said the sale will trigger a $4.6 billion accounting charge, which includes $2.1 billion tied to âaccumulated foreign currency translation adjustments.â
AT&T is slated to report quarterly earnings on Thursday.
An AT&T spokesman said the transaction carries an enterprise value of $500 million, which will be paid over the next few years. The companies expect to close the deal in ea ...