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AT&T to Buy DirecTV for $48.5 Billion

Article Comments  22  

May 18, 2014, 6:18 PM   by Eric M. Zeman   @phonescooper

AT&T has entered into an agreement to purchase DirecTV for about $48.5 billion in a cash and stock transaction. The acquisition is more about providing AT&T with the means to grow its subscription TV business than about expanding mobile services. The acquisition gives AT&T a nationwide pay-TV footprint, and DirecTV has some compelling sports exclusives that AT&T will be able to offer its customers. AT&T said it will expand plans to build out its wired, fiber broadband network to an additional 15 million rural locations within four years. AT&T committed to offering stand-alone broadband services that don't include video programming. AT&T said it will homogenize DirecTV pricing so all consumers will pay the same prices. AT&T committed to abide by the 2010 net neutrality rules proposed by the Federal Communications Commission (even though those rules were eventually struck down). Last, AT&T said this transaction will not impact its plan to bid up to $9 billion in spectrum auctions both later this year and in mid-2015. The transaction includes DirecTV's Latin American services, and AT&T will divest its shares of America Movile in order to facilitate the transaction on those regions. DirecTV's shareholders will receive about $95 per share, including $28.50 in cash and $66.50 in AT&T stock. AT&T intends to finance the transaction through a combination of cash, sale of non-core assets, financing, and debt sales. The acquisition was approved by both AT&T and DirecTV's boards of directors, but it is subject to shareholder votes and regulatory review. AT&T expects the deal to close in about 12 months.

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Comments

This forum is closed.

This forum is closed.

one_word

May 21, 2014, 11:06 PM

Att=horrible

service
LibtardExposer

May 18, 2014, 11:39 PM

Wow this stinks

I love directv the way it was. I hope att does not change it like they tend to do. Directv was a better choice than cable I have had them for years.... Don't know what the future will hold this is starting to really stink.
I have both AT&T and Directv and from my experience they both have great customer service! I am stoked for this deal as I believe AT&T is going to take their service to the next level with offering and packages!
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Slammer

May 19, 2014, 5:35 AM

There We Have It.

AT&T once a monopoly then broken up, is back together again thanks to failed government. If this deal goes through, AT&T will be the largest pay tv provider in the world.

We look at how they will finance this deal and it clearly shows how the smaller carriers could not compete on the financial level of buying power regardless of "parent companies" involvement. AT&T was always in control even after the break up.

Here it is people in black and white. You asked for it, you've got it. Welcome to the dystopian mega merge era where companies gain power and the consumers lose choice.

John B.
Go blame your corrupt government and corporate lobbyists.


Capitalism got out of control in this country - and so did the influence and campaign donations.
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We the people need to kick butt and take names. This Mega Company rules the world for sure now. The government is corrupt on both sides of the coin. These mega mergers are hurting the system thats for sure, Less choice and more Greed.
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Slammer said:
If this deal goes through, AT&T will be the largest pay tv provider in the world.

John B.

While they'll be very large, Comcast is will still be larger.
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