US senate to hold hearing over AT&T acquisition of DirecTV
The US senate anti-trust panel is to hold a hearing later this month to review AT&T’s proposed acquisition of DirecTV.
AT&T has proposed to acquire the US unit for approximately $48.5 billion, in order to increase its presence in the US payTV market.
It is one of three telecoms deals that could potentially be blocked by regulators in the US, with Comcast’s deal to acquire Time Warner Cable, and Sprint’s rumoured bid to acquire T-Mobile US also under scrutiny.
A hearing is scheduled for June 24, with AT&T claiming the deal for DirecTV will enable its consumers to access video and media, while helping it compete with the larger cable companies.
Witnesses for the house hearing will include AT&T CEO Randall Stephenson and DirecTV CEO Michael White.