AT&T to acquire DirecTV and its 20 million satellite TV subscribers

AT&T wants to take TV seriously. The company has announced plans to acquire satellite provider DirecTV, and if the deal is approved by regulators, the merged firms will control some 26 million TV subscribers, making it second only to the hypothetical 30 million account for by the pending Comcast-Time Warner Cable acquisition. The Wall Street Journal first reported that the boards of each company had approved the deal for a price of $ 95 a share — which values the satellite TV provider near $ 50 billion. In a press release, AT&T confirmed the news, adding that the acquisition will be a cash-and-stock deal.

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