AT&T, DirecTV may join forces
NEW YORK — AT&T is in advanced talks to acquire DirecTV, the largest U.S. satellite-TV provider, for about $100 per share, according to people familiar with the matter. DirecTV management will continue to run the company as a unit of AT&T and DirecTV Chief Executive Officer Mike White plans to retire after 2015, said the people, asking not to be named because the information is private. The $100 per share price values El Segundo, Calif.- based DirecTV at about $50 billion. That’s about 29 percent above DirecTV’s price on April 30, before initial reports of the talks. DirecTV rose 6 percent to $92.50 as of 5:15 p.m. in New York, after closing regular trading at $87.16 a share earlier on Monday. The purchase would give AT&T a satellite-TV provider to combine with its phone and broadband Internet offerings as competition ramps up. A deal could allow AT&T to offer U.S. subscribers a bundle of wireless, television, phone and high-speed broadband services. DirecTV and AT&T are planning on a 12-month regulatory process to review the deal, one of the people said.
Inmarsat offers plane tracking
LONDON — Inmarsat Plc, a provider of global mobile satellite communications services, says it will offer free basic tracking services for planes flying over oceans in the hope of preventing another incident such as the loss of Malaysia Airlines Flight 370. The British company said Monday that the service is being offered to all 11,000 commercial passenger aircraft already equipped with an Inmarsat satellite connection — most of the world’s long-haul commercial fleet. Inmarsat, which made its offer ahead of a conference in Canada on aircraft tracking, said it anticipated the adoption of further safety measures following the loss of MH370.
From Wire Reports