AT&T Picks Up DirectTV For $48.5 Billion Dollars Pending Approvals

Business / Tech


Well, we’re starting to see just how much of our money some of these big companies have. AT&T has just plunked down $48.5 billion on DirectTV, Google picked up for $1 billion and Apple is rumored to be waiting in the wings to pick up Beats for $3.2 billion. The DirectTV buy has been approved by the boards of both companies but will have to pass regulatory approval as well as shareholder approval. 

“This is a unique opportunity that will redefine the video entertainment industry and create a company able to offer new bundles and deliver content to consumers across multiple screens – mobile devices, TVs, laptops, cars and even airplanes. At the same time, it creates immediate and long-term value for our shareholders,” said AT&T Chairman and CEO Randall Stephenson. DIRECTV is the best option for us because they have the premier brand in pay TV, the best content relationships, and a fast-growing Latin American business. DirecTV is a great fit with AT&T and together we’ll be able to enhance innovation and provide customers new competitive choices for what they want in mobile, video and broadband services. We look forward to welcoming DirecTV’s talented people to the AT&T family.”

DirecTV president and CEO Mike White added, “This compelling and complementary combination will bring significant benefits to all consumers, shareholders and DIRECTV employees. U.S. consumers will have access to a more competitive bundle; shareholders will benefit from the enhanced value of the combined company; and employees will have the advantage of being part of a stronger, more competitive company, well positioned to meet the evolving video and broadband needs of the 21st century marketplace.”

AT&T says it wants to expand to rural customers with this acquisition and plans on building that out over the next four years. What do you think about the AT&T/DirectTV buy? Let us know in the comments below or on Google+, Facebook and Twitter. Our social media links are to the left of your screen.

Source: Web Pro News

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