Transcript for AT&T Agrees to Buy DirecTV for $50 Billion
There was a big move in the business world. A blockbuster merger that could create major changes in how we pay for television and connect to the internet. AT&T is buying DirecTV for nearly $50 billion and ABC's David Kerley is here with what this could mean for you. Reporter: This deal is about getting bigger and competing with other behemoths who want to be the ones that you pay for your internet connection and TV. The $48 billion deal, which will launch AT&T deeper into TV space quickly, provides not only satellite content but also be able to provide TV on mobile phone, as well. Adding DirecTV's 20 million subscribers will make the phone company number two behind Comcast and Comcast is also trying to get bigger as we speak attempting to convince regulators that it should be allowed to buy Time Warner. That would solidify its position as number one, the number one source for pay content. Now, the bigger these companies are, George, the more leverage they have with the producers of that content. The TV networks and the cable networks. Does it give them power to raise prices too? Yes, what will it mean for you and me. AT&T says it will provide more competition and DirecTV will allow it to provide customers new, competitive choices. We'll see what the regulators say. Okay, David, thanks very much.
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