On Sunday, AT&T announced it is acquiring DirecTV, gaining 20 million U.S. subscribers in a $49 billion deal.
AT&T will buy the company at $95 a share, The Washington Post reports, or $66.40 a share in AT&T stock and $28.50 a share in cash. Assuming the two giants join forces, they will be able to sell consumers bundles of phone, pay-TV, and high-speed internet. "This is very, very unique," AT&T Chairman and CEO Randall Stephenson said in a conference call. The deal "fulfills a vision that we've had for a couple of years... to take premium content and deliver it over multiple points for the consumer."
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