Report: DirecTV Deal Gets DOJ Clearance; FCC Timeline Continues

DirecTV DTV shares spiked Monday on a report that an agreement with antitrust regulators paved the way for its $4.85 billion acquisition by AT&T Inc. T . The New York Post reported the deal will obtain clearance in October from the Department of Justice, which administers the Hart-Scott-Rodino antitrust act. The report didn't address separate approvals from the Federal Commications Commission. DirectTV has said it expects FCC clearance around Feb. 3, given that agency's typical 180-day review period. Public comments on the merger are due to FCC Sept. 16 with responses required by Nov. 5. http://www.fcc.gov/document/pleading-cycle-set-att-directv-transaction Brazilian regulators approved the merger July 21 and the company said it has obtained approvals from all required state Public Utilities Control authorities. AT&T wants to obtain DirecTV's 20 million subscribers, adding them to its 5.7 million U-Verse TV service subscribers. DirecTV holders are to receive about $95 a share in cash and AT&T stock in the merger. DirecTV traded recently at $85.23, up nearly 1 percent.