toggle

AAPL Stock: 113.29 ( + 0.37 )

Printed from http://www.macnn.com

AT&T close to DirecTV buyout offer, could come as early as Sunday

updated 02:38 pm EDT, Sat May 17, 2014

Deal's specifics not yet known, rumored to be near $50 billion

AT&T is reportedly ready to announce a deal for satellite communications company DirecTV on Sunday. Allegedly, DirecTV CEO Mike White has told senior executives that the deal with AT&T is finalized, and details are ready to be released to the public. The buyout, rumored to approach $50 billion, will give the combined broadcast entity over 26 million subscribers, rivaling that of Comcast and Time Warner's accumulated subscriber base.

Jon Passantino, of BuzzFeed Business, was told by sources familiar with the matter that "the deal is done." The arrangement, according to the Wall Street Journal, is for an offer in the low- to mid-$90 range per share, though Bloomberg is reporting the offer at $100, exceeding Friday's closing price of $86.17. An offer of $95 per share prices the offering at $48 billion. Bloomberg's reported deal would price the company at just over $50 billion.





Any deal would face intense scrutiny from regulatory agencies, already dealing with the Comcast and Time Warner Cable prospective merger. A source close to the US Federal Communications Commission (FCC) believes that there is a decent chance of a deal being approved, as the regulatory board sees solo services such as video or voice as dying out, and the combined company would be an excellent counter in size and market reach to the Comcast-Time Warner merged entity, if that is approved.




by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

ZTE Spro 2 Smart Projector

Home theaters are becoming more and more accessible these days, but maybe you've been a bit wary about buying a home projector. And h ...

MSI Geforce GTX 970 100ME

When Nvidia announced a new line of video cards in September 2014, many people thought things would continue to be business as usual i ...

Wren V5US Wireless Sound System

If you're a music fanatic, chances are you are, by extension, a bit fanatical about what you listen to your music on. If you're like ...

toggle

Most Commented