Tuesday, February 09, 2016
Current Weather
Loading Current Weather....
Published: Monday, 5/12/2014

AT&T said to be in advanced talks to buy DirecTV for about $50 billion


NEW YORK -- AT&T Inc. is in advanced talks to acquire DirecTV for about $100 per share, the largest U.S. satellite-TV provider, according to people familiar with the matter.

Under the plan being discussed, DirecTV management will continue to run the company as a unit of AT&T and DirecTV Chief Executive Officer Mike White plans to retire after 2015, said the people, asking not to be named because the information is private.

The $100 per share price values El Segundo, California- based DirecTV at about $50 billion. That’s about 29 percent above DirecTV’s price on April 30, before the Wall Street Journal first reported the companies were in talks.

DirecTV and AT&T are planning on a 12-month regulatory process, one of the people said.

Darris Gringeri, a DirecTV spokesman, declined to comment. Mark Siegel, an AT&T spokesman, did not immediately return a phone call seeking comment.

Recommended for You

Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.