AT&T to Aquire DirecTV for $48.5 Billion

AT&T has announced that it will acquire satellite broadcaster DirecTV for about $48.5 billion. The boards of both companies have approved the deal, according to a a joint statement released by the two companies.

According to the company's announcement, the purchase will enable AT&T to cover 70 million more customer locations through a broadband expansion, and will allow it to offer a more attractive "bundle" of services to entice customers away from subscribing to cable TV.

“This is a unique opportunity that will redefine the video entertainment industry and create a company able to offer new bundles and deliver content to consumers across multiple screens –- mobile devices, TVs, laptops, cars and even airplanes," said AT&T chairman and CEO Randall Stephenson in a statement. “DirecTV is the best option for us because they have the premier brand in pay TV, the best content relationships, and a fast-growing Latin American business." Read more...