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.
Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. Comments that violate these standards, or our privacy statement or visitor's agreement, are subject to being removed and commenters are subject to being banned. To post comments, you must be a registered user on toledoblade.com. To find out more, please visit the FAQ.