AT&T Is Buying DirecTV for $50 Billion

After nearly a month of will they or won't they, it's finally official. AT&T has entered into a "definitive agreement" to acquire DirecTV for a cool $50 billion. Meaning AT&T is about to hold the keys to roughly 26 million TV subscribers.

It might seem like an odd pairing, but the two companies already work together to provide each other's services where the one is out of reach. That means AT&T's U-verse triple threat could very soon be spreading. According to the release:

The transaction enables the combined company to offer consumers bundles that include video, high-speed broadband and mobile services using all of its sales channels — AT&T's 2,300 retail stores and thousands of authorized dealers and agents of both companies nationwide.

The deal is particularly notable in light of the recent Comcast-Time Warner deal. With all other cable players being effectively edged out, it won't be long before all US cable services exist as one giant monopolized, soul-sucking blob. [Business Wire]