AT&T agreed to buy DirecTV for $49 billion, creating a new pay-TV giant and giving AT&T CEO Randall Stephenson more clout with content companies as video moves to the Internet.
AT&T looked in the mammoth deal in the pay-TV space that will immediately boost the telecom giant’s customer base at a time of confounding industry challenges.
The merger, which both boards approved Sunday, is the latest evidence of TV-industry consolidation that underscores telecommunications companies’ desire to amass customers and control content and delivery.
May 19, 2014
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