TweakTown
Tech content trusted by users in North America and around the world
6,252 Reviews & Articles | 40,824 News Posts
TRENDING NOW: Sony teases PlayStation 5 could be a cloud-based console

AT&T to buy DirecTV under definitive purchase agreement

AT&T and DirecTV enter into purchase agreement valued at $67.1 billion and have plans to offer bundles with TV, phone, and internet to customers

| Business, Financial & Legal News | Posted: May 19, 2014 10:38 am

We mentioned not long ago that AT&T and DirecTV hoped to announce a purchase agreement as early as today. That purchase agreement has now been announced with AT&T and DirecTV entering into a definitive agreement that will see AT&T buy the satellite provider. The deal will see AT&T pay $95 per share for DirecTV.

 

TweakTown image news/3/7/37810_1_at_t_to_buy_directv_under_definitive_purchase_agreement.jpg

 

The purchase will be funded in cash and stock and was agreed to unanimously by the boards of both companies. AT&T says that the deal will create a combined company that is a content distribution leader in the mobile, video, and broadcast platforms.

 

Once completed, the deal will allow the companies to offer consumers bundles that feature video, high-speed internet, and mobile service through its sales channels. AT&T says that DirecTV will continue to be headquartered in El Segundo, California after the deal closes. The breakdown on the purchase price sees DirecTV shareholders get $28.50 per share in cash and $66.50 per share in AT&T stock. The equity value on the deal is $48.5 billion and a total transaction value is $67.1 billion when DirecTV's net debt is included.

NEWS SOURCES:About.att.com

Related Tags

Further Reading: Read and find more Business, Financial & Legal news at our Business, Financial & Legal news index page.

Do you get our news RSS feed? Get It!

Got an opinion on this news? Post a comment below!

Latest News Posts

View More News Posts

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases