AT&T Said in Advanced Talks to Buy DirecTV for About $50 Billion [View all]

[onehandle]

Source: Huffington Post

AT&T Inc. (T) is in advanced talks to acquire DirecTV (DTV), the largest U.S. satellite-TV provider, for about $100 per share, according to people familiar with the matter.

Under the plan being discussed, DirecTV management will continue to run the company as a unit of AT&T and DirecTV Chief Executive Officer Mike White plans to retire after 2015, said the people, asking not to be named because the information is private.

The $100 per share price values El Segundo, California-based DirecTV at about $50 billion. That’s about 29 percent above DirecTV’s price on April 30, before the Wall Street Journal first reported the companies were in talks.

DirecTV and AT&T are planning on a 12-month regulatory process, one of the people said.


Read more: http://bloomberg.com/news/2014-05-12/at-t-said-in-advanced-talks-to-buy-directv-for-about-50-billion.html

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First, they'll need approval from Comcast...