DirecTV to restate some financials, record $1.1 bln charge
Oct 16 (Reuters) - Satellite TV provider DirecTV said it would restate financial statements for the quarter ended June, citing an incorrect measurement of assets of its Venezuelan subsidiary.
Statements related to the quarter are being restated to record a pre-tax charge of about $1.1 billion, DirecTV said in a regulatory filing on Friday. (1.usa.gov/1GiaSBv)
In July, DirecTV merged with No. 2 U.S. wireless carrier AT&T Inc to form the biggest pay-TV company. (Reporting by Sai Sachin R in Bengaluru; Editing by Sriraj Kalluvila)
© Thomson Reuters 2017 All rights reserved.