AT&T Closes Sale of Puerto Rico and U.S. Virgin Islands Operations to Liberty Latin America
November 02 2020 - 8:00AM
Business Wire
AT&T Inc. (NYSE: T) announced today that it has
completed the sale of its wireless and wireline operations in
Puerto Rico and the U.S. Virgin Islands to Liberty Latin America.
The transaction includes employees; network assets and spectrum;
real estate and leases; customers, including more than 1 million
wireless subscribers; and contracts.
AT&T will retain DIRECTV and certain global business
customer relationships and FirstNet responsibilities and
relationships. Eligible first responders subscribing to FirstNet in
Puerto Rico and the U.S. Virgin Islands will still have access to
the benefits and capabilities — including always-on priority and
preemption — of the FirstNet platform.
AT&T is receiving $1.95 billion in cash and plans to use the
proceeds to redeem all of the preferred interests in a subsidiary
(PR Holdings). The company continues to pursue additional non-core
asset monetization opportunities.
*About AT&T
AT&T Inc. (NYSE:T) is a diversified, global leader in
telecommunications, media and entertainment, and technology.
WarnerMedia is a leading media and entertainment company that
creates and distributes premium and popular content to global
audiences through its consumer brands, including: HBO, HBO Max,
Warner Bros., TNT, TBS, truTV, CNN, DC Entertainment, New Line,
Cartoon Network, Adult Swim and Turner Classic Movies. Xandr, now
part of WarnerMedia, provides marketers with innovative and
relevant advertising solutions for consumers around premium video
content and digital advertising through its platform. AT&T
Communications provides more than 100 million U.S. consumers with
entertainment and communications experiences across TV, mobile and
broadband. Plus, it serves high-speed, highly secure connectivity
and smart solutions to nearly 3 million business customers.
AT&T Latin America provides pay-TV services across 10 countries
and territories in Latin America and the Caribbean and wireless
services to consumers and businesses in Mexico.
AT&T products and services are provided or offered by
subsidiaries and affiliates of AT&T Inc. under the AT&T
brand and not by AT&T Inc. Additional information is available
at about.att.com. © 2020 AT&T Intellectual Property. All rights
reserved. AT&T, the Globe logo and other marks are trademarks
and service marks of AT&T Intellectual Property and/or AT&T
affiliated companies. FirstNet and the FirstNet logo are registered
trademarks and service marks of the First Responder Network
Authority. All other marks contained herein are the property of
their respective owners.
Cautionary Language Concerning Forward-Looking
Statements
Information set forth in this news release contains financial
estimates and other forward-looking statements that are subject to
risks and uncertainties, and actual results might differ
materially. A discussion of factors that may affect future results
is contained in AT&T’s filings with the Securities and Exchange
Commission. AT&T disclaims any obligation to update and revise
statements contained in this news release based on new information
or otherwise.
This news release may contain certain non-GAAP financial
measures. Reconciliations between the non-GAAP financial measures
and the GAAP financial measures are available on the company’s
website at https://investors.att.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20201102005295/en/
Fletcher Cook AT&T Phone: 214-912-8541 Email:
fletcher.cook@att.com
Daphne Avila AT&T Inc. Phone: (972) 266-3866 Email:
daphne.avila@att.com
AT&T (NYSE:T)
Historical Stock Chart
From Aug 2024 to Sep 2024
AT&T (NYSE:T)
Historical Stock Chart
From Sep 2023 to Sep 2024