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AT&T Said To Be Interested in Potential $40 Billion DirecTV Acquisition


WATCH: More market update videos on TheStreet TV | More videos from Brittany Umar

NEW YORK (TheStreet) -- AT&T has approached DirecTV about possibly acquiring the company, according to a report by the Wall Street Journal, which estimated that a deal would likely be worth at least $40 billion.

VIDEO TRANSCRIPT:

AT&T (T) has approached DirecTV (DTV) about possibly acquiring the company, according to a report by The Wall Street Journal.

The Journal reported that DirecTV would be "open to a deal," which the newspaper said would likely be worth at least $40 billion, DirecTV's current market capitalization.

DirecTV is the largest satellite-TV operator in the U.S.  AT&T already has a partnership with the company, selling its satellite TV service in states where AT&T offers broadband.

The report comes after rumors surfaced in March that Dish Network (DISH) was interested in a potential merger with DirecTV.  The pay-TV industry in the U.S. has been going through consolidation.  Comcast (CMCSA) agreed to acquire Time Warner Cable (TWX) this year for $45 billion, and just this week agreed to a deal with Charter Communications (CHTR) in an effort to win regulatory approval for the Time Warner acquisition.

Shares of DirecTV were climbing about 6% on the news.  In New York, I'm Brittany Umar for TheStreet.

Written by Brittany Umar in New York.

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