Printed from http://www.electronista.com

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 Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Razer Taipan mouse

The list of gaming devices is growing larger with each passing day. A large number of companies have entered the gaming input arena, a ...

Cambridge Audio DacMagic XS

Every computer with a microphone or headphone port has one -- a digital to analog converter (DAC). There are nearly as many chipsets a ...

D-Link Wi-Fi Smart Plug

Home automation fans have been getting their fair share of gadgets and accessories in the last few years. Starting with light bulbs, a ...

Sponsor

toggle

Most Commented

 
toggle

Popular News