AT&T Sells Off a Big Part of DirecTV

It looks like AT&T is ready to dump the dish. At least part of it anyway.

The parent company of CNN says that it has sold a minority stake in its satellite TV unit DirecTV, AT&T TV and its U-Verse business to private equity firm TPG.

The companies will form a new venture, to be called DirecTV, that will own and operate the pay video services.

AT&T bought Direct TV for around $50 billion dollars and it now sits at a value of around $16 million bucks.

And you wonder why your bill keeps going up.