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."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Jussie Smollet conviction overturned on appealSpeed Read The Illinois Supreme Court overturned the actor's conviction on charges of staging a racist and homophobic attack against himself in 2019
-
Quincy Jones, music icon, is dead at 91Speed Read The legendary producer is perhaps best known as the architect behind Michael Jackson's 'Thriller'
-
OJ Simpson, star athlete tried for murder, dead at 76Speed Read The former football hero and murder suspect lost his battle with cancer
-
Momofuku's 'Chili Crunch' trademark uproarSpeed Read The company's attempt to own the sole rights has prompted backlash
-
Kevin Hart awarded Mark Twain PrizeSpeed Read He is the 25th recipient of the prestigious comedy prize
-
Is Downton Abbey set to return for a final film?Speed Read Imelda Staunton reveals that a third movie may be in the pipeline
-
'Oppenheimer' sweeps Oscars with 7 winsspeed read The film won best picture, best director (Christopher Nolan) and best actor (Cillian Murphy)
-
'Rust' armorer convicted of manslaughterspeed read The film's cinematographer Halyna Hutchins was shot and killed by actor Alec Baldwin during rehearsal
