AT&T buying out DirecTV

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AT&T and DirecTV have announced that they’ve reached a definitive agreement on an acquisition deal in which AT&T will purchase DTV for $95 per share in a stock-and-cash transaction. This agreement comes with the unanimous approval of both company’s boards.

Details on the deal will be released today at a news conference in just a couple of hours (8:30 am EST), but it’s already pretty juicy and will stand as one of the largest consolidations in recent history.

DirecTV’s customer base, facilities, technology, stores, etc. will become available to AT&T immediately while AT&T’s customer base, storefronts, etc. will do the same for DirecTV in a merger that builds a huge sales network for both parties. It will make AT&T a content distribution leader rivaling its competitors like Verizon and Comcast.

“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.

This creates several fronts to give AT&T a big boost in terms of its product offerings to mobile consumers specifically. Namely access to all of DirecTV’s exclusive broadcast deals, such as out-of-market NFL, access to unique content, and easier access to Internet customers who cannot otherwise use AT&T’s services.

It also potentially adds a host of new consumer options through the two companies that were not available as packages before. Expect to have many of those fully fleshed out in the conference today. That will be broadcast live at 8:30 am EST on a webcast, which you can access at this link.