AT&T announced late Friday that its purchase of DirecTV has closed. The news ends more than a year of work by AT&T to purchase the satellite TV provider and creates the nation's largest pay-TV provider by customers. AT&T CEO Randall Stephenson added that AT&T now can offer "video streamed over the Internet to any screen."
AT&T said it has officially closed on its $49 billion acquisition of DirecTV following FCC approval of the transaction. The news brings to a close a review process that lasted over a year.
AT&T's proposed $49 billion purchase of DirecTV has cleared its final hurdle, according to Reuters, which reported that at least three of the FCC's five commissioners have voted to approve the deal.
Although AT&T appears poised to close its $49 billion acquisition of DirecTV any day now, some see the move by the telecom giant as a step backwards rather than forwards.
FCC Chairman Tom Wheeler recommended that the five-member agency approve AT&T's $49 billion purchase of DirecTV, clearing the penultimate regulatory hurdle for the deal, first proposed in May 2014, to finally be approved.
The FCC is set to announce that it has signed off on AT&T's $49 billion purchase of DirecTV, ending a 14-month regulatory process.
DirecTV and the NFL have been hit with the second class-action antitrust lawsuit in less than a month over their NFL Sunday Ticket games package.
As part of its efforts to get federal regulators to approve its proposed $49 billion acquisition of DirecTV, AT&T told the FCC that it's prepared to offer discounted broadband services to Americans who are already qualified to receive government aid.
Houston MSO enTouch Systems has asked the FCC to impose restrictions on the amount of program licensing fees a combined AT&T and DirecTV will be able to charge rival operators for access to regional sports networks.
AT&T and DirecTV have announced another short-term extension of their merger agreement, as the two companies enter the 14th month since they first forged their $49 billion deal.