Consumers lose AGAIN. Less choices, less competition means higher prices, and lower service.
(Reuters) – AT&T Inc plans to pay $48.5 billion to buy DirecTV, in the latest sign that the wireless industry and the U.S. television market are set to converge as customers consume more video on their mobile devices.
The deal, announced on Sunday, highlights AT&T’s pressing need for fresh avenues of growth beyond the maturing U.S. cellular business, which has become increasingly competitive.
The combination with DirecTV, the No.1 U.S. satellite TV provider with 20 million customers, would beef up Dallas-based AT&T’s packages of cellular, broadband, TV and fixed-line phone services. [read]