In a move that will further consolidate the telecommunications industry, AT&T and DIRECTV have entered into a definitive agreement under which AT&T will buy DirecTV in a stock and cash deal whereby AT&T will acquire DirecTV for $95 per share, which includes $28.50 in cash and $66.50 per share in AT&T stock. Both companies unanimously approved the agreement, but it must be approved by the FCC and Department of Justice. If approved, this deal would make AT&T the the second largest provider of pay television services, second only to Comcast.
