AT&T to Buy DirecTV for $48.5 Billion

Staff Writer
Columbus CEO

c.2014 New York Times News Service

AT&T formally agreed on Sunday to buy DirecTV for about $48.5 billion, striking another transaction meant to overhaul the U.S. telecommunications landscape.

Under the terms of the deal, AT&T will pay about $95 a share in stock and cash. That is a roughly 10 percent premium to DirecTV’s closing share price on Friday and about 30 percent higher than where the company’s shares were trading before rumors of a deal began to emerge.

Including debt, the takeover is valued at about $67 billion.

The boards of both companies approved the transaction at separate board meetings on Sunday.

The deal will face some scrutiny by federal regulators, who are already weighing Comcast‘s $45 billion bid for Time Warner Cable.