AT&T is in late talks to buy DirecTV for $US100 per share, the equivalent of about $US50 billion, Bloomberg reports.
It’s not the first time we’ve heard of this deal. The Wall Street Journal reported the same thing earlier this month, but at a smaller, $US40 billion valuation.
DirecTV would be run as a separate unit under its CEO Mike White. But White reportedly has plans to retire in 2015.
The deal comes at a time when we’re seeing a lot of consolidation between telecoms and cable/satellite TV providers. Comcast is currently in talks to buy Time Warner Cable in a $US45 billion deal. AT&T already offers cable TV in a few markets through its UVerse system, but a DirecTV acquisition would allow it to provide pay TV virtually anywhere via satellite.
AT&T declined to comment.
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