AT&T nears DirecTV purchase in new jolt to TV landscape

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    Technology News

    An AT&T building is pictured in Los AngelesBy Soyoung Kim and Liana B. Baker NEW YORK (Reuters) – AT&T is close to announcing that it will buy the No. 1 U.S. satellite TV operator DirecTV, according to people familiar with the matter, in the second potentially transformative deal to jolt the U.S. television industry this year. The No. 2 U.S. cellular operator, which also has some TV and broadband services, has been in active discussions to buy DirecTV for nearly $50 billion, or low to mid-$90s per share, and has been working to finalize a deal in coming weeks, Reuters reported last Monday. The takeover would be the latest in a string of mega-acquisitions AT&T has considered. Those include an abortive bid for T-Mobile USA in 2011, as well as a potential takeover of Vodafone Plc, which receded as a possibility after Comcast Corp surprised the industry this year with a $45 billion bid for Time Warner Cable Inc. A tie-up with DirecTV would expand AT&T's reach and allow it to bundle new services, offering certain customers one-stop shopping for the range of cellular, broadband, TV and fixed line phone services.

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