By Brian Stelter, CNN
AT&T said Sunday that it had agreed to acquire America's biggest satellite television provider, DirecTV, in a deal worth almost $50 billion.
If approved by regulators, the acquisition will give AT&T a stronger hand in shaping the future of television distribution and consumption.
AT&T-DirecTV would be the country's No. 2 provider of television subscribers behind a combined Comcast-Time Warner Cable. Add it all up, and Comcast and AT&T would control more than half of the market for pay television.
"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," said AT&T CEO Randall Stephenson.
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