AT&T To Acquire DirecTV

In a statement, AT&T CEO Randall Stephenson noted that DirecTV "is a great fit" that offers "a unique opportunity that will redefine the video entertainment industry and create a company able to offer new bundles and deliver content to consumers across multiple screens — mobile devices, TVs, laptops, cars and even airplanes."

The two companies are planning to hold a conference call on Monday morning to answer questions about the deal. The deal is said to be worth 48.5 billion dollars in stock and cash.

By Kaleb Rutherford