20 May 2014

AT&T to buy DirecTV for $US50b

7:42 am on 20 May 2014

US telecommunications giant AT&T is to acquire DirecTV, a broadcast satellite service company, for nearly $US50 billion.

AT&T logo

Photo: AFP (file)

Shareholders will receive $US95 per share under the terms of the merger.

DirecTV has about 20 million customers, making it the No.2 pay-TV company in the United States. It also has more than 18 million customers in Latin America.

AT&T said it would use the merger to expand plans to build and enhance high-speed broadband service to 15 million customers, mostly in rural areas.