Is AT&T going to buy DirecTV?
May 1st, 2014
08:25 PM ET

Is AT&T going to buy DirecTV?

By Brian Stelter, CNN

NEW YORK (CNNMoney) If Comcast and Time Warner Cable is round one, AT&T and DirecTV might be round two.

The Wall Street Journal reported on Wednesday night that AT&T (TFortune 500) has approached DirecTV (DTVFortune 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 (CMCSAFortune 500) and Time Warner Cable (TWCFortune 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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