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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.

Published Mon, May 19 2014 5:38 AM CDT   |   Updated Tue, Nov 3 2020 12:16 PM CST

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.

AT&T to buy DirecTV under definitive purchase agreement | TweakTown.com

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 SOURCE:about.att.com

Shane is a long time technology writer who has been writing full time for over a decade. Shane will cover all sorts of news for TweakTown including tech and other topics. When not writing about all things geeky, he can be found at the track teaching noobs how to race cars.

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