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NewsPoster May 13, 2014 12:02 PM
AT&T offer for DirecTV said to be worth up to $50 billion
Discussions between <a href=" st.and.time.warner.cable/" rel='nofollow'>AT&T and DirecTV</a> are heating up, according to sources familiar with the matter. Reportedly, AT&T is looking at offering $48 billion for the satellite communications company in the next few weeks. Still to be negotiated are a "break-up" fee if regulators or other forces nix the deal, and the ultimate fate of DirecTV's CEO Mike White after the merger.<br />
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The deal, according to the <em>Wall Street Journal</em>, is for an offer in the low- to mid-$90 range per share, though <em>Bloomberg</em> is reporting the offer at $100, exceeding Tuesday's closing price of $86.57. An offer of $95 per share prices the offering at $48 billion. <em>Bloomberg's</em> reported deal would price the company at just over $50 billion.<br />
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Any deal would face intense scrutiny from regulatory agencies, already dealing with the Comcast and Time Warner Cable prospective merger. A source close to the US Federal Communications Commission (FCC) believes that there is a decent chance of a deal being approved, as the regulatory board sees solo services such as video or voice as dying out, and the combined company would be an excellent counter in size and market reach to the Comcast-Time Warner merged entity if that is approved.
cashxx May 13, 2014 12:15 PM
They used to own a cable company until it got sold or became comcast.
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