AT&T, DirecTv extend ‘termination date’ for second time
WASHINGTON – AT&T Inc (T.N), the No. 2 U.S. telecom company, said it has extended the “termination date” of the merger agreement with satellite TV provider DirecTV (DTV.O) for “a short period of time”, the second time in two months.
AT&T said in a regulatory filing on Monday that the extension is aimed at obtaining final regulatory approval for the merger. (1.usa.gov/1IHzVJa)
AT&T in May last year offered to buy DirecTV to create the largest U.S. pay TV company. The deal highlights AT&T’s pressing need for fresh avenues of growth beyond the maturing U.S. cellular business, which has become increasingly competitive. – Reuters