US mobile carrier AT&T has announced that it will purchase DirecTV in a deal which is worth $48.5 billion, the company will pay DirecTV in stock and cash, and the deal has now been approved by the directors of both companies.
The deal will allow AT&T to offer broadband and direct TV bundles and also expand DirecTV to its existing 70 million customers in the US.
“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 Randall Stephenson, AT&T Chairman and CEO. “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.”
You can find out more details about the deal between AT&T and DirecTV over at AT&T and the link below.