AT&T Is Trying To Buy DirecTV For $50 Billion

Business Insider

Report: AT&T-DirecTV Deal Could Be Two Weeks Away

Now watching

Next video starts in : 7 Play

Report: AT&T-DirecTV Deal Could Be Two Weeks Away

Report: AT&T-DirecTV Deal Could Be Two Weeks Away
Replay video
Up next

America's poor road conditions are good for Michelin's business

America's poor road conditions are good for Michelin's business Up next

America's poor road conditions are good for Michelin's business

>>

www.youtube.com

The guy from the AT&T commercials.

AT&T is in late talks to buy DirecTV for $100 per share, the equivalent of about $50 billion, Bloomberg reports.

It's not the first time we've heard of this deal. The Wall Street Journal reported the same thing earlier this month, but at a smaller, $40 billion valuation.

DirecTV would be run as a separate unit under its CEO Mike White. But White reportedly has plans to retire in 2015.

DirecTV closed today at $87.16 per share. But the stock rose over 6% in after-hours trading following the report.

The deal comes at a time when we're seeing a lot of consolidation between telecoms and cable/satellite TV providers. Comcast is currently in talks to buy Time Warner Cable in a $45 billion deal. AT&T already offers cable TV in a few markets through its UVerse system, but a DirecTV acquisition would allow it to provide pay TV virtually anywhere via satellite.

AT&T declined to comment.



More From Business Insider

 

View Comments (20)