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Highlights
• DIRECTV now becomes a wholly owned portfolio company of TPG Capital
• Acquisition expected to accelerate investment in DIRECTV's streaming services
• Former Sony Pictures CEO joins DIRECTV’s board following leadership transition

TPG (NASDAQ: TPG) announced the completion of its acquisition of the remaining 70% stake in DIRECTV from AT&T, making DIRECTV a wholly owned portfolio company under TPG Capital, the firm’s U.S. and European private equity platform.

This transaction marks a continuation of TPG’s involvement with DIRECTV and reinforces its position in the digital media and communications sectors. Since TPG’s initial investment, DIRECTV has expanded its next-generation streaming services to millions of subscribers and has reported higher customer satisfaction and reduced churn.

Following the acquisition, DIRECTV plans to increase investments in its video offerings. Bill Morrow, CEO of DIRECTV, stated that the company has plans to expand its portfolio of video services to deliver improved entertainment experience.

David Trujillo, Partner at TPG, noted confidence in DIRECTV's management and product innovation. John Flynn, also a Partner at TPG, described DIRECTV as being equipped with diverse programming and competitive positioning in the evolving content and technology landscape.

As part of the board restructuring, Thaddeus Arroyo, Lori Lee, Jamie Barton, and Steve McGaw have stepped down from DIRECTV’s Board of Directors. Tony Vinciquerra, former CEO of Sony Pictures Entertainment, has joined the board. Vinciquerra has previously served in executive or advisory roles across a range of companies including Qualcomm, Pandora Media, Univision Communications, Motorola, and Fox Networks Group.

TPG, founded in 1992 and headquartered in San Francisco, manages USD258 billion in assets across a range of investment strategies, including private equity, impact, credit, real estate, and market solutions.Top of Form