facebook
twitter
rss
account
search
search
 

AT&T to buy DirecTV for $48.5 billion

With the merger, AT&T has expanded its customer base to 20 million DirecTV subscribers.
By Kate Stanton   |   May 18, 2014 at 9:28 PM   |   Comments

Leer en Español
NEW YORK, May 18 (UPI) -- AT&T said Sunday that it had agreed to buy DirecTV, the nation's largest satellite television operator, for $48.5 billion.

The merger will dramatically expand AT&T's customer base -- thanks to DirecTV's 20 million subscribers -- and help it compete more effectively with Comcast, which bought Time Warner Cable earlier this year.

The telecommunications giant purchased DirecTV for $95 a share in cash and AT&T stock.

"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," AT&T CEO Randall Stephenson said in a statement.

The Dallas-based company also said that DirecTV's "fast-growing Latin American business" played a role in the merger.

"With DirecTV they are getting a national TV presence," Roger Entner, of Recon Analytic, said of AT&T last week. "They can sell TV with wireless nationwide."

Follow @KateStan and @UPI on Twitter.
Contact the Author
Topics: Roger Entner
© 2014 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Scrap South Stream, Europe says Scrap South Stream, Europe says
2
New F-35 sustainment system undergoing flight testing New F-35 sustainment system undergoing flight testing
3
Apple to authorities: No iPhone user data, even with a warrant Apple to authorities: No iPhone user data, even with a warrant
4
Boeing to build new passenger spacecraft for NASA Boeing to build new passenger spacecraft for NASA
5
Eni makes major oil find in Ecuador Eni makes major oil find in Ecuador
Trending News
Video
x
Feedback