AT&T Announces Merger with DirecTV
Two telecommunications companies are moving towards a billion dollar deal.
AT&T says it’s buying DirecTV for $49 billion.
Following a government review, the companies expect the merger deal to close within the next 12 months.
The proposed plan could help compete against Comcast and Time Warner Cable after those companies agreed to a merger in February.
But the fate of these new alliances rest in the hands of the FCC.
“The Federal Communications Commission has a role to look at all these mergers, both individually and against the landscape that they’re operating with, and say, ‘Are these mergers in the public interest?'” says Michael Weinberg, Vice President of Public Knowledge.
If the commission passes both acquisitions, AT&T and Comcast would control almost two-thirds of the US pay TV market.