AT&T CEO Randall Stephenson is trying to convince the government that its merger with DirecTV would be beneficial for consumers. AT&T CEO Randall Stephenson testified before the House Judiciary Committee today to make the case that his proposed merger with DirecTV will be good for consumers.
AT&T Inc. Posts
AT&T Inc. (NYSE:T) is reportedly getting the new unreleased Amazon smartphone as an exclusive first, according to The Wall Street Journal. AT&T gained many subscribers after getting the iPhone as an exclusive several years ago. It is unknown when the smartphone will be headed to other carriers.
AT&T Inc. (NYSE:T) and DIRECTV (NASDAQ:DTV) said that the only way for the companies to compete against cable giants like Comcast and Time Warner Cable is for the two companies to merge, according to public interest statement they filed with the Federal Communications Commission today.
AT&T announced late on Sunday that it has acquired DirecTV for about $48.5 billion. The boards at both companies have approved the deal. The acquisition will enable AT&T to cover 70 million more customer locations through broadband expansion. AT&T’s acquisition of DirecTV will allow it to offer a “bundle” of services to switch over from cable TV.
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Earlier this year, AT&T Inc. (NYSE:T) acquired Leap Wireless for $1.2 billion, which is the parent company of Cricket Wireless. Cricket Wireless is now being relaunched by AT&T. However, AT&T will be shutting down the prepaid brand Aio Wireless. This is because AT&T did not want to run two similar brands at the same time.
AT&T Inc. (NYSE:T) is reportedly going to announce the acquisition of satellite company DIRECTV (NASDAQ:DTV) this Sunday, according to sources with BuzzFeed. “The deal is done,” said BuzzFeed’s source. DirecTV CEO Mike White already reportedly told senior executives that the deal is finished and that the public will be given confirmation on Sunday.
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The talks between AT&T Inc. (NYSE:T) and DirecTV are heating up. AT&T is reportedly going to acquire DirecTV for $50 billion, according to Bloomberg. DirecTV will be semi-independent following the acquisition.
AT&T Inc. (NYSE:T) is looking at buying satellite TV company DirecTV, according to The Wall Street Journal. DirecTV has around 20 million subscribers and a $40 billion market cap. A deal of this size would bring AT&T’s TV unit to around the same size of Comcast once the company completes the deal to buy Time Warner Cable. AT&T’s TV business is estimated at around 5.7 million customers. Comcast and Time Warner Cable combined would serve around 30 million. The Wall Street Journal cited sources that claims AT&T previously approached DirecTV and Dish “in recent years.” It is believed that Comcast’s acquisition of Time Warner Cable triggered these discussions.