AT&T Plans to Acquire El Segundo's DirecTV

AT&T plans to acquire El Segundo-based DirecTV for nearly $49 billion, according to reports.

The deal would give AT&T access to tens-of-millions of DirecTV subscribers in the U.S. and millions more in Latin America and would allow DirecTV to bundle its TV service with AT&T's phone and broadband offerings, according to the Los Angeles Times.

Under the terms of the deal, AT&T is paying $95. a share for DirecTV, including $66.50 in AT&T shares and the remainder in cash, according to the Times.

The deal still faces regulatory hurdles.

--City News Service