Make us your home page

AT&T reportedly in talks to buy DirecTV for more than $50 billion

AT&T is in talks to acquire DirecTV for at least $50 billion, and the two sides are actively working toward an announcement, the New York Times is reporting.

If completed, a deal would give AT&T, the second-largest U.S. wireless carrier, control of the country's largest satellite television provider, the Times said, citing a person briefed on the matter.

The deal would further reshape the rapidly changing telecommunications and television industries. AT&T has reportedly grown interested in DirecTV in recent months, leading to an approach in recent weeks.

Rumors of a deal between the two companies has sent DirecTV shares up this month.

But on Monday, details on the timing and price of a deal began coming into focus. The Wall Street Journal, which earlier reported the talks, said a deal could be announced within two weeks. Bloomberg said AT&T was preparing to offer about $100 a share, a modest premium over DirecTV's current share price.

For AT&T, a deal for DirecTV would signal its continued ambitions to grow in the United States, after its attempted takeover of rival wireless carrier T-Mobile failed in 2011 because of resistance from regulators. AT&T believes it has an opportunity to expand its footprint in the pay-television business. DirecTV has about 20 million subscribers.

Talks between AT&T and DirecTV began in earnest after Comcast announced its deal to acquire Time Warner Cable. That deal, if completed, would create a clear leader in the cable television industry.

Yet people familiar with both deals said that if AT&T and DirecTV announce a deal, it could complicate the review of Comcast's bid for Time Warner Cable, as regulators could want to consider both deals simultaneously.

AT&T reportedly in talks to buy DirecTV for more than $50 billion 05/12/14 [Last modified: Monday, May 12, 2014 8:54pm]
Photo reprints | Article reprints

Copyright: For copyright information, please check with the distributor of this item, Associated Press.

Join the discussion: Click to view comments, add yours

  1. Black entrepreneur says city stiffing him on project after he endorsed Rick Baker


    ST. PETERSBURG — A prominent African-American resident says his endorsement of mayoral candidate Rick Baker has led city officials to freeze him out of a major construction project along the historic "Deuces" stretch of 22nd Street S.

  2. Sen. Nelson urges FEMA to examine high number of denied flood claims


    Sen. Bill Nelson urged FEMA on Tuesday to ensure fairness, proper oversight and transparency in processing Hurricane Irma aid following a report by the Palm Beach Post that 90 percent of Irma claims under the National Flood Insurance Program had been denied.

    Sen. Bill Nelson is calling for FEMA to ensure the flood claims process post-Hurricane Irma is fair and ethical following reports that 90 percent of claims under the National Flood Insurance Program were denied. | [Times file photo]
  3. Amazon expands in Tampa with Pop-Up shop in International Plaza


    TAMPA — A new retailer known largely for its online presence has popped up at International Plaza and Bay Street.

    Shoppers walk past the new Amazon kiosk Tuesday at the International Plaza in Tampa. The kiosk, which opened last month, offers shoppers an opportunity to touch and play with some of the products that Amazon offers.
[CHRIS URSO   |   Times]

  4. Study: Florida has fourth-most competitive tax code


    Florida's tax code is the fourth most competitive in the country, according to a study released Tuesday by nonprofit group Tax Foundation.

    Florida has the fourth-most competitive tax code, a study by the Tax Foundation said. Pictured is  Riley Holmes, III, H&R Block tax specialist, helping a client with their tax return in April. | [SCOTT KEELER, Times]
  5. Trigaux: On new Forbes 400 list of U.S. billionaires, 35 now call Florida their home

    Personal Finance

    The latest Forbes 400 richest people in America was unveiled Tuesday, with 35 billionaires on that list calling Florida home. That's actually down from 40 Florida billionaires listed last year when a full 10 percent listed declared they were Floridians by residence.

    Edward DeBartolo, Jr., shopping center developer and  former San Francisco 49ers Owner, posed with his bronze bust last year during the NFL Hall of Fame Enshrinement Ceremony in Canton, Ohio. DeBartolo remains the wealthiest person in Tampa Bay according to the Forbes 400 list released Tuesday. 
[Photo by Joe Robbins/Getty Images]