Report: AT&T Clears Plan to Buy DirecTV with DOJ
One of the largest hurdles AT&T has faced in its plan to purchase DirecTV has apparently been cleared this week, according to the New York Post. The telecommunications company has reached an agreement with the Department of Justice.
The rumors indicate that AT&T had to agree to several unspecified conditions, which would allow it to gain regulatory approval for the $9 billion takeover bid.
If the Department of Justice does indeed sign off on the deal, the antitrust issues raised when the initial bid was made will likely go away. Even so, the Federal Communications Commission will have to approve the deal in the end. But the argument is that if AT&T has agreed to the conditions, itâ€™s likely going to be approved.
AT&T would get access to DirecTVâ€™s 20 million subscribers, and add them to their 5.7 million U-verse TV subsrcibers, making them the second biggest TV provider behind Comcast-Time Warner Cable once they officially merge.
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