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AT&T Plans To Buy DirecTV
Photo: Tim Boyle / Hutton Archive (Getty Images)
Get ready for even less competition in television service, as telecom megalith AT&T is planning to buy El Segundo-based DirecTV for $49 billion.
CNBC reports that the deal will expand AT&T's bandwidth on their strained Internet lines by pushing viewers over to satellite TV service - that is, assuming the merger is approved by the government. DirecTV will remain based in El Segundo for now. AT&T's headquarters are in Dallas.
No word on whether this means DirecTV subscribers will be able to watch Dodgers games anytime soon, but we're not holding our breath: the merger is expected to take a year to complete.