AT&T Inc is in advanced talks to buy satellite TV provider DirecTV for about $100 per share, or roughly $50 billion, a person familiar with the matter said on Monday.
The two companies are working toward a deal announcement as soon as within the next two weeks and hammering out final terms such as whether to have a break-up fee in place, the person said, asking not to be named because the matter is not public.
AT&T and DirecTV declined to comment. Bloomberg News earlier reported that AT&T was offering to pay around $100 per share for DirecTV, whose management team will continue to run the company as a unit of AT&T. . The Wall Street Journal said a deal could happen in two weeks.
DirecTV shares rose 6 percent to $92.50 in extended trading on Monday.