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.
The deal is worth around $50 billion, reports The New York Times and Bloomberg.
DirecTV is the biggest satellite operator in the country with around 20 million subscribers. This gives AT&T leverage for negotiating with video content providers. AT&T’s U-verse digital TV service has under 6 million subscribers.