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Rumors confirmed: AT&T plans to buy DirecTV

Nancy Weil | May 19, 2014
AT&T plans to acquire DirecTV for about US$50 billion, it announced Sunday, laying to rest days of reports based on anonymous sources that such a deal was in the offing.

"But that's seven, eight or nine years out. It's not like it's in a five-year period," Erik Brannon, an analyst with IHS, toldComputerworld last week. "It takes time to reach that level of penetration. It's not inconceivable that AT&T achieves a market penetration of 37% or 38%."

Time Warner Cable is trying to buy Comcast for $42 billion, in a deal that is currently being scrutinized by regulators.

AT&T and DirecTV will host a webcast Monday at 8:30 a.m. Eastern Time to discuss the deal. Links to the webcast and documents related to the proposed deal will be available at the investor relations sections of the websites of both companies.

 

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