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AT&T near USD 50 bln takeover of DirecTV - report

2014-05-13 09:18:00| Telecompaper Headlines

(Telecompaper) AT&T is in advanced talks to acquire DirecTV for about USD 50 billion, people familiar with the matter told Bloomberg. Under the plan being discussed, management of DirecTV, the largest US satellite-TV provider, will continue to run the company as a unit of AT&T. DirecTV CEO Mike White plans to retire after 2015, the report said. The deal is more than a week away from being completed, one source told Bloomberg. The two companies are still negotiating a price, which could come close to USD 95 a share, depending on how much cash or stock is in the transaction. Two other people said the price could go as high as USD 100 per DirecTV share. DirecTV had also drawn merger interest from rival Dish Network, Bloomberg reported earlier. However, Dish chairman Charline Ergen recently said he though the satellite-TV rival is too expensive to pursue. 

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Category:Telecommunications

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