AT&T approached the company with an offer about a possible acquisition of the satellite business along with its 20 million or so customers.
We recently heard about Comcast trying to buy take over the second latest cable business and for sure there was a great possibility of others following through as well. Many rumors were also expected after this but there is one in particular which comes from a rather reliable source. According to the Wall Street Journal, AT&T has eyes on DirecTV and they have approached the company with an offer about a possible acquisition of the satellite business along with its 20 million or so customers. The offer was made at a whopping $40 billion or more.
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This partnering might have caught many by surprise and there is no doubt about the fact that it does sound a bit odd that a telecom giant and satellite TV company are joining together but everyone might not be aware of this that the two companies have already been working together. They have worked together for services in places where U-verse TV doesn't reach yet and have a deal that will run until 2015 (which replaced AT&T's short-livedagreement with Dish Network back in 2009).
However we are much more curious about the timing of this announcement. Only a month earlier Bloomberg reported DirecTV and Dish Network were considering trying a merger again and we are thinking that the opportunity was exploited to its fullest. These two companies previously couldn’t enter into this agreement due to some government regulations in place.