AT&T to Buy DirecTV for $48.5 Billion in Cash, Stock

Sunday, 18 May 2014 05:42 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
DirecTV, the No. 1 U.S. satellite TV operator, said on Sunday it has agreed to sell itself to AT&T for $48.5 billion in the second mega-deal to shake-up the U.S. television landscape this year.

The deal with Dallas,-based AT&T, which has some TV and broadband services, is the latest in a string of big takeovers the wireless operator has considered. Those include an abortive bid for T-Mobile USA in 2011, as well as a potential takeover of Vodafone Plc, which receded as a possibility after Comcast Corp surprised the industry this year with a $45 billion bid for Time Warner Cable Inc.

AT&T said it was offering $95 per DirecTV share in a combination of stock and cash, with the cash portion financed by cash, asset sales, financing already lined up and other "opportunistic debt market transactions." DirecTV shares closed Friday at $86.18.

The transaction has a total value of $67.1 billion, including DirecTV's net debt.

© 2014 Thomson/Reuters. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Chrysler Recalling Nearly 189,000 SUVs for Stalling Risk

Saturday, 20 Sep 2014 10:10 AM

Chrysler is recalling nearly 189,000 Jeep Grand Cherokees and Dodge Durangos in the U.S. to fix a fuel pump problem that . . .

Billionaire Niel’s Iliad Said to Face Hurdles in T-Mobile Bid

Friday, 19 Sep 2014 19:22 PM

Iliad SA faces hurdles in its plan to buy T-Mobile US Inc. as a search for extra financing lingers on and Deutsche Telek . . .

P&G's Crest Cancels NFL Event After Domestic-Violence Outcry

Friday, 19 Sep 2014 15:46 PM

Procter & Gamble's Crest toothpaste has canceled a breast cancer awareness event with the National Football League amid  . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved