The timing of the acquisition proved disastrous. Shortly after the deal closed, the "cord-cutting" phenomenon accelerated as millions of consumers began ditching traditional satellite and cable for streaming services like Netflix and Amazon Prime Video.
: DirecTV also faced heavy losses on its exclusive NFL Sunday Ticket deal, which it eventually lost to streaming competitors. The Exit: Spinoff and Final Sale at&t buy directv
In July 2015, AT&T finalized its acquisition of DirecTV for approximately ($67 billion including assumed debt). At the time, the deal made AT&T the largest pay-TV provider in the world, boasting 26 million U.S. customers. The timing of the acquisition proved disastrous
The strategic goal was to create a "triple play" powerhouse that could bundle wireless, high-speed internet, and premium satellite TV into a single consumer package. Former CEO Randall Stephenson believed this would provide a steady stream of cash to fund future network investments and allow AT&T to distribute content across every screen imaginable. The Struggle: Cord-Cutting and Mismanagement The Exit: Spinoff and Final Sale In July
: By 2021, the business that AT&T once valued at $67 billion was worth only about $16 billion.