Is AT&T going to buy DirecTV?
By Brian Stelter, CNN
The Wall Street Journal reported on Wednesday night that AT&T (T, Fortune 500) has approached DirecTV (DTV, Fortune 500), the largest satellite TV distributor in the United States, about a possible acquisition. The Los Angeles Times reported that "exploratory talks" are underway.
Shares of DirecTV surged nearly 6% in early trading Thursday on the reports. The stock closed up about 3%.
A pairing of DirecTV's roughly 20 million TV subscribers with AT&T u-Verse's 5.7 million subscribers would rank No. 2 behind the combinedComcast (CMCSA, Fortune 500) and Time Warner Cable (TWC, Fortune 500), which is expected to end up with almost 30 million subscribers if the merger receives government approval.
Read more of Brian's article online here.
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Brian Stelter is the host of "Reliable Sources" and the senior media correspondent for CNN Worldwide. Before he joined CNN in November 2013, Stelter was a media reporter for The New York Times. He is the author of the New York Times best-seller "Top of the Morning."
Here's his biography. You can read his stories on this blog and at CNNMoney.com/Media/.
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