UNDATED, Ind. (21Alive) – Telecommunications giant AT&T announced it is buying satellite TV provider DirecTV for $95 a share, a deal worth a total of about $49 billion.
The sale was approved unanimously by the boards of directors of both companies.
Analysts say the merger allows AT&T to expand its mobile, video and broadband services. It also strengthens the company's ability to compete with Comcast and Time Warner Cable, which announced a merger in February.
AT&T and DirecTV expect the deal to be finalized by this time next year.
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