AT&T buys DirecTV for $48.5 billion: Monopoly Media Mergers Edition
- 10 years ago
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AT&T announced it plans to buy DirecTV, the top US satellite TV operator, for $48.5 billion in an attempt to grow beyond an increasingly hostile cellular market.
The deal was announced on Sunday. AT&T said it is offering $95 per DirecTV share in a combination of cash and stock, a 10 percent premium over Friday's closing price of $86.18. The cash portion, $28.50 per share, will be financed by cash, asset sales, financing already lined up and other debt market transactions.
If the deal is approved by US regulators, AT&T would add 20 million DirecTV customers to its paltry 5.7 million U-verse customers, plus another 18 million DirecTV customers in Latin America.
With DirecTV, AT&T would become the No. 2 provider of television subscribers behind a combined Comcast-Time Warner Cable. AT&T and Comcast would control more than half the market for television packages.
The problem for AT&T is that satellite TV subscriptions have flattened, and more customers are cutting the cable TV cord in favor of web-based options. The problem for consumers is that these days US regulators are really into Monopoly.
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AT&T announced it plans to buy DirecTV, the top US satellite TV operator, for $48.5 billion in an attempt to grow beyond an increasingly hostile cellular market.
The deal was announced on Sunday. AT&T said it is offering $95 per DirecTV share in a combination of cash and stock, a 10 percent premium over Friday's closing price of $86.18. The cash portion, $28.50 per share, will be financed by cash, asset sales, financing already lined up and other debt market transactions.
If the deal is approved by US regulators, AT&T would add 20 million DirecTV customers to its paltry 5.7 million U-verse customers, plus another 18 million DirecTV customers in Latin America.
With DirecTV, AT&T would become the No. 2 provider of television subscribers behind a combined Comcast-Time Warner Cable. AT&T and Comcast would control more than half the market for television packages.
The problem for AT&T is that satellite TV subscriptions have flattened, and more customers are cutting the cable TV cord in favor of web-based options. The problem for consumers is that these days US regulators are really into Monopoly.
------------------------------------------------------------------------------------------
Daily videos brought to you by THE Taiwanese Animators behind the infamous Tiger Woods animation. We got the funniest animations on the web to help you stay in-the-know on all the trending stories, so sit back, relax, and watch a few.
Check out our Android app: https://play.google.com/store/apps/details?id=com.nextmedia.gan
Check out our iOS app: https://itunes.apple.com/app/tomonews/id633875353
Visit our channel for your daily dose of Taiwanese Animations:
https://www.youtube.com/user/NMAWorldEdition
Wish all your news was animated? Subscribe now:
http://www.youtube.com/subscription_center?add_user=NMAWorldEdition
Can't get enough of Taiwanese animations? Connect with us here:
Facebook http://www.facebook.com/NMAtv
Twitter @nmatv http://www.twitter.com/nmatv
Google+ http://gplus.to/NMAtv
Web http://us.tomonews.net/category/lol