"We're adjusting our operations costs to align with these changes and will continue to invest in new entertainment products and service enhancements." DirecTV became a private company in 2021 when AT&T entered into a deal with private-equity firm TPG to spin off DirecTV and its related businesses, with an implied enterprise value of $16.5 billion at the time. AT&T acquired DirecTV in 2015 for $48.5 billion and the assumption of debt. DirecTV and its peers have long been under pressure as customers cut the cord and opt for streaming services.