AT&T in talks to buy DirecTV for nearly $50 billion: sources

Home Forums AT&T in talks to buy DirecTV for nearly $50 billion: sources

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    Technology News

    An AT&T sign is shown on a building in downtown San Diego, CaliforniaBy Soyoung Kim and Ronald Grover NEW YORK/LOS ANGELES (Reuters) – AT&T Inc is in active talks to buy satellite TV provider DirecTV and may finalize a deal in the next few weeks that could be worth close to $50 billion, two people familiar with the matter said on Monday. The second largest wireless operator is discussing an offer in the low to mid-$90s per share for DirecTV, one of the people said, compared with the company's closing price of $87.16 on Monday. A bid at around $95 per share would value DirecTV at more than $48 billion based on its shares outstanding. The talks are the latest sign of a rising tide of potential megadeals in the telecoms, cable and satellite TV space, which is being roiled by Comcast Corp's proposed $45 billion takeover of Time Warner Cable Inc as well as market forces like the rise of Web-based TV and surging mobile Internet usage.

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