NEW YORK (TheStreet) -- Shares of AT&T (T) are up by 0.54% to $33.67 on heavy volume in mid-afternoon trading on Tuesday, as the Justice Department and the Federal Communications Commission are said to be close to concluding their review of AT&T's $49 billion acquisition of DirecTV (DTV), sources told the Wall Street Journal, adding it is unlikely that what could be the largest media deal of the last year will be blocked by regulators.
So far today, 30.60 million shares of AT&T have exchanged hands as compared to its average daily volume of 26.05 million shares.
The deal has raised opposition from companies such as Netflix (NFLX), arguing that the deal would give the company the power and incentive to choke its online video competition, the Journal said.
It is possible that regulators can impose restrictions on the deal, the sources said, but noted that they don't seem to have serious concerns regarding the combination. If AT&T and DirecTV merge it would create the largest pay TV company in the U.S.
Shares of DirecTV are higher by 1.47% to $90.69 on heavy volume this afternoon.
Separately, TheStreet Ratings team rates AT&T INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate AT&T INC (T) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth and expanding profit margins. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself."