AT&T Inc. plans to buy DirecTV for $48.5 billion, gaining more than 38 million video subscribers at home and in Latin America to better compete as the biggest U.S. cable-TV providers bulk up through their own acquisitions. AT&T will pay $95 for each share of DirecTV, split between $28.50 in cash and the equivalent of $66.50 in stock, the companies said today in a statement. That’s a 10 percent premium to DirecTV’s closing price on May 16. Including net debt, the deal values the largest U.S. satellite-TV company at $67.1 billion. The purchase gives AT&T a national satellite-TV provider to combine with its U.S. wireless service and phone and high-speed Internet offerings. AT&T Chief Executive Officer Randall Stephenson is using deals to get bigger as competitors Comcast Corp. and Time Warner Cable Inc. plan their own merger and as consolidation accelerates across the communications industry. Read more http://www.businessweek.com/news/20...rectv-for-48-dot-5-billion-to-add-video-users
