Rumors have been floating around all week that AT&T will purchase DirecTV for a reported $50 billion. Now, BuzzFeed quotes unnamed insiders who say the deal will be officially announced tomorrow, ahead of trading on Monday. The deal would give AT&T access to DirecTV's 20 million subscribers, the largest satellite customer base in the U.S., as well as the satellite provider's sizable cash assets. [BuzzFeed]
Bloomberg is reporting that AT&T is gearing up to buy DirecTV for $50 billion. Per Bloomberg:
Under the plan being discussed, DirecTV management will continue to run the company as a unit of AT&T and DirecTV Chief Executive Officer Mike White plans to retire after 2015, said the people, asking not to be named because the information is private.
Report is thin, but this isn't the first time we've heard this rumor. Perhaps it would be a plan to boost AT&T's existing UVerse offering, especially in light of Comcast/Time Warner Cable. But also the dollar amount for an AT&T purchase of DirecTV seems a bit high, especially considering Comcast got TWC for around $44 billion. [Bloomberg]