AT&T to announce DirecTV takeover on Sunday: Report

Chicago | Updated: May 19 2014, 01:16am hrs
ATTAT&T Inc is set to announce its expected acquisition of top U.S. satellite TV operator DirecTV on Sunday. Reuters
AT&T Inc is set to announce its expected acquisition of top U.S. satellite TV operator DirecTV on Sunday, according to a report by online news website Buzzfeed.com.

A spokesman for AT&T said the firm would make no comment on the report. DirecTV did not immediately respond to a request for comment.

AT&T has been in active discussions to buy DirecTV for nearly $50 billion, or low to mid-$90s per share, and has been working to finalize a deal in the next few weeks, Reuters reported last Monday.

Citing a source close to DirecTV, Buzzfeed.com said that DirecTV chief executive Mike White has told senior executives a deal had been reached and would be announced Sunday.

Reuters reported this week that AT&T was working with investment bank Lazard Ltd in talks for a potential takeover of DirecTV.