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AT&T in negotiations to buy DirecTV for $48.5 billion

By Catholic Online (NEWS CONSORTIUM)
5/19/2014 (3 years ago)
Catholic Online (https://www.catholic.org)

Deal would give AT&T access to DirecTV's 40 million digital TV customers

In a major media takeover, U.S. telecommunications firm AT&T is set to acquire satellite television provider DirecTV in a cash and shares deal valued at $48.5 billion. If this goes through, it will give AT&T access to DirecTV's 40 million digital TV customers in the U.S. and Latin America.

In DirecTV's favor is its premier content. This includes such exclusive pay TV rights to 'NFL Sunday Ticket' which gives subscribers access to every American football game played on Sunday afternoons, which they can view on TV, laptops and mobile devices.

In DirecTV's favor is its premier content. This includes such exclusive pay TV rights to "NFL Sunday Ticket" which gives subscribers access to every American football game played on Sunday afternoons, which they can view on TV, laptops and mobile devices.

Highlights

By Catholic Online (NEWS CONSORTIUM)
Catholic Online (https://www.catholic.org)
5/19/2014 (3 years ago)

Published in Business & Economics

Keywords: DirecTV, AT&T, buyout


LOS ANGELES, CA  (Catholic Online) - The agreement would also give AT&T a new source of revenue beyond its traditional telecommunications business.

It's a very high possibility. The board of directors at both companies have approved the merger.

Starvation never takes a vacation --

However, the agreement is subject to approval by DirecTV shareholders. The agreement also needs to be reviewed by U.S. regulators, including the Federal Communications Commission and the Department of Justice.

Both companies are hopeful the transaction will be completed in a year's time.

"This is a unique opportunity that will redefine the video entertainment industry and create a company able to offer new bundles and deliver content to consumers across multiple screens - mobile devices, TVs, laptops, cars and even airplanes," AT&T chairman and chief executive Randall Stephenson said in a statement.

DirecTV is a leading pay TV provider in the US and Latin America. AT&T is a telecommunications provider and it boasts of a nationwide mobile network and a high-speed broadband network, which the company says will cover 70 million customer locations, with the broadband expansion enabled by this transaction.

In DirecTV's favor is its premier content. This includes such exclusive pay TV rights to "NFL Sunday Ticket" which gives subscribers access to every American football game played on Sunday afternoons, which they can view on TV, laptops and mobile devices.

Under the terms of the merger, DirecTV shareholders will receive $95 per share, comprising $28.50 per share in cash and $66.50 per share in AT&T stock.

AT&T intends to finance the cash portion of the transaction through a combination of cash on hand, sales of assets and loans.

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