Report: AT&T Set to Buy DirecTV
AT&T is working to wrap up a deal to buy DirecTV, according to a report in the Wall Street Journal.
The Journal suggests AT&T could shell out about $50 billion for the leading satellite television provider. The deal would be comprised of both cash and its own stock, according to the report. The Journal says the deal could be completed within two weeks, though notes the deal could still fall apart.
The deal would represent further consolidation in the telecommunications and TV spaces, coming as Comcast seeks approval to acquire Time Warner Cable. DirecTV’s leadership would remain on board, with DirecTV operating as a unit of AT&T, according to Bloomberg.
DirecTV recorded more than $30 billion in revenue in 2013. The publicly traded company has about 27,000 employees and about 20 million subscribers in the U.S.
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