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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





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