DirecTV Launches New Streaming Service for All the Old AT&T Streaming Services

Business

Gizmodo 02 August, 2021 - 03:52pm 38 views

AT&T closes spin-out of DirecTV, video services units (NYSE:T)

Seeking Alpha 02 August, 2021 - 09:30pm

AT&T Completes DirecTV Spinoff, Will Launch DirecTV Stream | Cord Cutters News

Cord Cutters News 02 August, 2021 - 03:29pm

Many of the streaming service offers that appear on cordcuttersnews.com are from companies which may also provide our site with compensation. This allows us to support our site and continue to provide you with the most up to date entertainment and streaming content. Our team prides itself in providing objective news, reviews, opinions, and other related content to educate our readers so you can make informed decisions. Please view our advertising policy page for more information.

AT&T will get $7.8 billion in the deal, with $1.8 billion coming from TPG and $5.8 billion from the new DirecTV. Financials of the new company will not be included in AT&T’s balance sheet moving forward.

The new DirecTV will be focused only on video. CEO Bill Morrow said in a statement Monday that “we are well positioned to bring unparalleled choice and value to all of our customers under one iconic brand whether they beam it or stream it.”

Within the new company, all streaming offerings will be under the umbrella of DirecTV Stream, including AT&T TV. AT&T says there will be no changes to packages and pricing, aside from the name change, and that customers won’t have to take any action to keep their service.

When AT&T TV becomes DirecTV Stream, subscribers will still be able to choose from four packages: the Entertainment Package with 65+ channels for $69.99; the Choice Package with 90+ channels and HBO Max included for 1 year for $84.99; the Ultimate Package with 130+ channels and HBO Max included for 1 year for $94.99; and the Premier Package with 140+ channels and HBO Max, Cinemax, Showtime, and Starz included for $139.99.

AT&T is also in the process of being approved for combining WarnerMedia with Discovery. AT&T purchased Time Warner for $85 billion in 2018. If the deal is approved, AT&T would receive $43 billion in a combination of cash, debt securities and WarnerMedia’s retention of certain debt.

Subscribe to our YouTube channel for our live Q&A, weekly news recap, and more.

Follow us for more cord cutting news, tips, and reviews.

Plus, join our Tech Support Facebook Group for cord cutting support from our community.

Get our weekly newsletter, the latest deals, and much more.

Jess Barnes attended Edinboro University and spent years working in nonprofit before taking up freelance writing in 2012. Jess has been working for Cord Cutters News since 2017.

Cord Cutters News makes money through affiliate partner links: If you click on a link, we may earn a commission. Our writers and editors create all reviews, news, and other content to inform readers, with no influence from our business team. Learn more about how we make money. We take pains to ensure our site is accurate and up to date, but some information might be different than what you find by visiting a vendor website.

© 2021 Cord Cutters News, a Red Ventures company. All rights reserved.

AT&T Completes DirecTV Spinoff, Will Launch DirecTV Stream | Cord Cutters News

Hollywood Reporter 02 August, 2021 - 03:29pm

Many of the streaming service offers that appear on cordcuttersnews.com are from companies which may also provide our site with compensation. This allows us to support our site and continue to provide you with the most up to date entertainment and streaming content. Our team prides itself in providing objective news, reviews, opinions, and other related content to educate our readers so you can make informed decisions. Please view our advertising policy page for more information.

AT&T will get $7.8 billion in the deal, with $1.8 billion coming from TPG and $5.8 billion from the new DirecTV. Financials of the new company will not be included in AT&T’s balance sheet moving forward.

The new DirecTV will be focused only on video. CEO Bill Morrow said in a statement Monday that “we are well positioned to bring unparalleled choice and value to all of our customers under one iconic brand whether they beam it or stream it.”

Within the new company, all streaming offerings will be under the umbrella of DirecTV Stream, including AT&T TV. AT&T says there will be no changes to packages and pricing, aside from the name change, and that customers won’t have to take any action to keep their service.

When AT&T TV becomes DirecTV Stream, subscribers will still be able to choose from four packages: the Entertainment Package with 65+ channels for $69.99; the Choice Package with 90+ channels and HBO Max included for 1 year for $84.99; the Ultimate Package with 130+ channels and HBO Max included for 1 year for $94.99; and the Premier Package with 140+ channels and HBO Max, Cinemax, Showtime, and Starz included for $139.99.

AT&T is also in the process of being approved for combining WarnerMedia with Discovery. AT&T purchased Time Warner for $85 billion in 2018. If the deal is approved, AT&T would receive $43 billion in a combination of cash, debt securities and WarnerMedia’s retention of certain debt.

Subscribe to our YouTube channel for our live Q&A, weekly news recap, and more.

Follow us for more cord cutting news, tips, and reviews.

Plus, join our Tech Support Facebook Group for cord cutting support from our community.

Get our weekly newsletter, the latest deals, and much more.

Jess Barnes attended Edinboro University and spent years working in nonprofit before taking up freelance writing in 2012. Jess has been working for Cord Cutters News since 2017.

Cord Cutters News makes money through affiliate partner links: If you click on a link, we may earn a commission. Our writers and editors create all reviews, news, and other content to inform readers, with no influence from our business team. Learn more about how we make money. We take pains to ensure our site is accurate and up to date, but some information might be different than what you find by visiting a vendor website.

© 2021 Cord Cutters News, a Red Ventures company. All rights reserved.

DirecTV breaks free from AT&T

Yahoo Finance 02 August, 2021 - 03:12pm

On Monday, AT&T completed its spinoff of DirecTV, taking $7.1 billion in cash and 70% interest in the new DirecTV. Private equity giant TPG, which contributed $1.8 billion, owns 30% of the new privately held company.

The new DirecTV is made up of AT&T's three TV distribution businesses: the namesake satellite TV service, the legacy U-verse and the streaming offer AT&T TV. The AT&T brand will be stripped away as part of DirecTV's efforts to simplify its message and repair its reputation among consumers.

"It's a new day and a new DirecTV," Bill Morrow, DirecTV chief executive, said in an interview.

AT&T's ownership of DirecTV was disastrous. The Dallas company paid $49 billion to acquire El Segundo-based DirecTV (and absorbed another $18 billion in debt) with the goal of selling its customers a bundle of TV and phone services. When that deal closed, in July 2015, AT&T became the nation's largest pay-TV provider with 26 million customers.

Now the three former AT&T television platforms — DirecTV, U-Verse and the streaming service AT&T TV — have about 15.4 million subscribers, according to the company. In six years, AT&T lost nearly 40% of its TV subscriber base, resulting in one of the highest levels of so-called "churn" in the industry.

"Some of our churn was self-inflicted," Morrow said. "It wasn't because consumers didn't like the service — it was because we were doing different things internally."

Morrow, a former CEO of Pacific Gas & Electric in San Francisco, has spent more than a decade in the industry. He worked about five years spearheading New Zealand's efforts to build a nationwide broadband network.

AT&T hired him in late 2019 when the company was under pressure from an activist investor that demanded that AT&T pay down its debt and get rid of non-core assets.

"Although AT&T starts with a 70% stake in DirecTV, they will likely wind down their investment over time," said Steve Nason, research director for Addison, Texas-based consulting firm Parks Associates. "For all intents and purposes, AT&T is now out of the pay-TV space."

DirecTV will have a five-member board: two representatives of AT&T and two representatives of TPG, as well as Morrow, who plans to bring a different focus to DirecTV.

Morrow believes the satellite TV business, while declining, will be around longer than some analysts have projected. Company research and customer surveys, he said, have shown that many consumers still want bundles of their favorite TV channels in addition to streaming services, like Netflix.

Rather than offering a jumble of brands, all products will be marketed as DirecTV.

At its core, DirecTV's strategy is to return to handling "aggregation, curation and distribution ... of content that consumers want brought to their doorstep," Morrow said.

Most of the unit's workers have transitioned to the new DirecTV. Morrow said he doesn't envision restructuring the workforce, which already has endured multiple rounds of reorganizations — and multiple management teams — in recent years. DirecTV also said it will honor terms of existing collective bargaining agreements covering union-represented employees.

The new company will be based in El Segundo and in Denver.

But there will be other changes eventually, including to one of DirecTV's signature offerings, the NFL Sunday Ticket package.

DirecTV maintains the rights to out-of-market Sunday afternoon football games through the 2022 season, but when the NFL deal expires the company will probably discontinue the package.

"The NFL Sunday Ticket was a great idea when it first started," Morrow said. "But then the NFL began spreading games across various days of the week and giving the rights to other distributors."

In recent years, DirecTV has been losing tens of millions of dollars a year on its partnership with the NFL, and it can no longer stomach the losses. In addition, the NFL has grown more interested in experimenting with streaming partners and granted a partnership with Amazon.

Morrow said DirecTV was "not interested in any way, shape or form" in extending the current arrangement with the NFL beyond the 2022 season.

AT&T has agreed to cover the NFL losses, according to a regulatory filing.

The spinoff comes as AT&T tries to streamline its holdings. It also has been under pressure to get rid of assets to generate cash to pay down its debt from its buying spree, which included the $85-billion purchase of WarnerMedia, parent of HBO, CNN, Turner and the Warner Bros. studio, three years ago. This spring, AT&T announced that it would sell WarnerMedia to smaller rival Discovery.

After the takeover in 2015, AT&T offered rich severance packages to much of DirecTV's senior leadership, who then stampeded out the door.

DirecTV had long been known for sterling customer service, but AT&T dismantled that, moving customer-relations functions into its "shared services" unit that was geared toward dealing with phone service issues. That meant AT&T customer service representatives suddenly had to troubleshoot satellite TV problems over the phone.

"After a year or two, AT&T probably realized the acquisition was a colossal mistake," Nason, the analyst, said.

Customer defections began accelerating within a couple years of AT&T's purchase. The company turned its attention to building a streaming service that it could pair with its broadband offer. It launched various versions of a streaming service — DirecTV Now, AT&T Now and AT&T TV, all of which sputtered in the market.

Morrow said there is untapped potential in the AT&T TV product, which will be relaunched as DirecTV Stream to capture the so-called cord-cutters.

"Traditional television is still a huge part of the ecosystem," Nason said. "But long-term it is not a sustainable business model because people are continuing to migrate away."

This story originally appeared in Los Angeles Times.

The video service unit said on Monday it will launch DirecTv Stream, a platform that will allow its users to get access to streaming services such as Netflix, Amazon.com Inc's Prime Video and HBO Max. The move will boost the TV operator's position, which like its peers, had been losing subscribers to video streaming services such as Netflix, Prime Video and Apple Inc's service that offer award-wining and exclusive shows.

AT&T has completed the spinoff of DirecTV into a new entity part-owned by private equity firm TPG, capping a costly six-year adventure in the satellite TV business. The new entity, whose financials will no longer be included on the AT&T balance sheet, unveiled new branding and a new home for its internet-delivered TV packages. Later […]

Best Olympic Photos Los Angeles Times BMX swimming wrestling Sunisa Lee

AT&T has closed on the deal to spin off DirecTV as a standalone entity with an assigned enterprise value of $16.3 billion. Per terms of the deal, which will see AT&T retain 70% of the new pay-TV entity—the private-equity firm TPG Capital is paying $1.8 billion for a 30% share of the new company’s common […]

Fox News Media said it has parted ways with legal analyst Andrew Napolitano, following an associate producer’s claim of sexual harassment. The employee, John Fawcett, who works on Fox Business Network’s Kudlow, filed a lawsuit Monday in New York Supreme Court (read it here) against the network, outlining his claims against Napolitano. Fawcett also alleged […]

Momoa was "bummed" by The New York Times asking if he regrets "Game of Thrones."

From "The Mandalorian" to "Marvel's Agent Carter," these are the 20 best (mostly for grown-ups) TV shows Disney+ has to offer right now.

Netflix released a trailer for the first five episodes of the final season of ‘La Casa de Papel,’ which stream on Sept. 3. In this batch of episodes, which the streamer is calling “La Casa de Papel (Money Heist) Part 5, Volume 1,” the gang faces one of its darkest moments after losing one of […]

"Let's show something that is a natural part of sex for a lot of queer people."

"Family Guy" has been a staple of Fox's animation slate since 1999.

Warning: This post contains spoilers from The Chi‘s Season 4 finale. What a difference a year makes. In 2020, Showtime’s The Chi ended Season 3 with a happy gathering at Emmett’s new BBQ restaurant, a feel-good gathering… that ended abruptly with the murder of unlikely hero Ronnie. This year, the Season 4 finale , which […]

Right-wing TV host recently claimed that Dr Anthony Fauci ‘created’ Covid

August sees Disney+ unveiling a new MCU animated series, a 'Mandalorian' special, and Emma Stone and Robin Williams in two memorable movie roles

Every gang of thieves deserves one last job, and despite having the worst title this side of Tower Heist, Money Heist is no exception. The final season of Netflix’s beloved caper series will hit the streaming service in two parts: the first five episodes coming on September 3 and the remaining five on December 3. But how are we supposed to get our Heist-ing fix before that?

The sheer volume of programming on streamer Discovery+ can be overwhelming, but there are a few really great series to be found in the avalanche.

Judge Andrew Napolitano, a legal contributor for Fox News, is no longer employed by the network following allegations of sexual harassment. In a complaint filed on Monday, a 27-year-old Fox News associate producer alleged that Napolitano has “sexually harassed numerous young male employees during his tenure at Fox News.” The plaintiff, whose name is John […]

MTV turns 40 on Sunday, and it hardly looks its age. Well, that’s because it hardly looks like, well, anything anymore. At least that’s the depressing state of the linear MTV channel, which in recent years has become 95% reruns of “Ridiculousness,” along with a handful of runs of 20-year-old movies (“Joe Dirt”) and limited […]

DirecTV completes spinoff from AT&T, will turn AT&T TV into DirecTV Stream

CNET 02 August, 2021 - 03:05pm

DirecTV's spinoff from AT&T is now official. After first being announced in February, on Monday afternoon DirecTV announced that it has completed the transaction which will see the telecom giant own 70% while private equity firm TPG holds 30%. 

The new company, which was referred to as New DirecTV during the spinoff process, will simply be called DirecTV going forward and consist of the DirecTV satellite service, AT&T TV streaming cable offerings as well as U-Verse TV, AT&T's cable television service. The company had 15.4 million customers at the end of the second quarter. 

There will be no adjustment to pricing or packages, with the only immediate change being that the AT&T TV streaming service will be rebranded as DirecTV Stream later this month. The name will encompass all of what once was AT&T's many streaming TV platforms, which originally was introduced as DirecTV Now back in 2016 and was recently consolidated into AT&T TV.

DirecTV Stream is the new name for AT&T TV.

Bill Morrow, who took over the role of CEO of DirecTV in February, will continue to lead the standalone company, which was valued at $16.25 billion earlier this year. 

"DirecTV, if you just think about the words that's involved in that, it's still relevant," Morrow told CNET about the decision to keep the DirecTV name. "And the brand actually does have some intangible value out there," he continued, noting that the company has a history of being a challenger starting from its roots as an alternative to cable television providers. 

Even as the company continues to build out its streaming side, Morrow isn't giving up on the satellite business and said that people have been "overstating" the death of the industry. 

"I don't see this thing going away in the next 10 years," he said, conceding that "maybe in two decades... I'd call it in the second decade from now, I think there'll be a few questions" about its survival. 

Morrow also hasn't ruled out a possible tie-up with rival satellite TV provider Dish, though he said that "at this point" his company is "not in any sort of discussions about emerging or consolidating anything," adding that "it's not unreasonable to think about how that might look in the future."

The spinoff deal was initially set to net AT&T $7.8 billion, a far cry from the $48.5 billion (not including debt) that it paid to acquire DirecTV when that original deal was announced in 2014. In Monday's announcement, AT&T disclosed that it received $7.1 billion at the close of the deal in cash, with the transaction having a net value of $7.6 billion when factoring in cash on hand. 

The DirecTV transaction is just one of two major media shake-ups at AT&T, which is in the process of restructuring itself after spending billions of dollars acquiring media companies in recent years. 

WarnerMedia -- formerly Time Warner and which includes the Turner cable channels, HBO and HBO Max -- is in the process of being spun off from AT&T to merge with Discovery and its Discovery Plus streaming service. AT&T completed its purchase of Time Warner for $85 billion in 2018 after a legal battle with the Department of Justice. 

Meghan Markle birthday cake recipe: Duchess may make favourite cake for 40th birthday

Yahoo Finance 02 August, 2021 - 04:54am

Meghan Markle, 39, used to run a lifestyle blog before she met Prince Harry, 36, and regularly shared her favourite recipes with fans. The former Suits actress used to update her site The Tig with lifestyle tips and cooking recommendations including one for her favourite chocolate cake.

In an introduction to the luxurious sweet treat, Meghan wrote on The Tig: "Be it Valentine’s Day, or any other day where you want to treat yourself (or your honey) to a little…well, sugar - this chocolate cake, with its gooey center [sic] and picture-perfect presentation, is a no-brainer.

"All my baking quandaries go out the window when I roll up my sleeves to make this one.

"Serve with ice cream, fresh berries, or just perfectly on its own."

Preheat the oven to 450F (230C).

Melt the butter and the chocolate together.

Combine the eggs, egg yolk and sugar together in a mixing bowl and beat for three minutes, until light and fluffy.

Pour into two to three-inch cake moulds rimmed with greased parchment paper (as in the side image), or individual ramekins (as in the photo above).

Bake for six to eight minutes or until the edges are set and the middle is still soft. You want the centre to be gooey, so I would stick to about six minutes since they will continue cooking from their own heat even when you pull them from the oven.

Sprinkle with powdered sugar or fresh berries if desired, then serve immediately with ice cream.

Meghan has hired a celebrity party planner to help organise a bash for her 40th on August 4, an insider has claimed.

One source told the Mirror the Duchess has enlisted the help of Hollywood part planner Colin Cowie to organise the low-key shindig at her and Harry's Montecito mansion.

The insider said: "Meghan wants a small gathering. About 65 people are invited, her closest friends and family.

"Colin was recommended to her by Oprah who always puts on fabulous parties."

Meghan and Harry are likely to have been rushed off their feet following the arrival of their second child Lilibet in June.

The parents of two may have enlisted the help of an event planner as they juggle home life with Lili and Archie.

Business Stories