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Call Summary Of AT&T's Acquisition Of DirecTV

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AT&T (NYSE: T) on Monday hosted a conference call alongside DIRECTV (NASDAQ: DTV) highlighting the recent acquisition of DIRECTV by AT&T.

CEOs from both companies spoke optimistically about the financing, opportunities and impact of the deal.


  • The total enterprise vale of the acquisition is $67.0 billion.
  • $47.0 billion will come from AT&T stock with the remainder of the deal being paid in cash.
  • $0.05/share impact is expect for 2014 EPS.
  • Expect EPS to be created within 12 months of the deal along with free cash flow.


  • The deal will redefine video for high-speed mobile devices.
  • Bundling DIRECTV video streaming through mobile platforms is expected to be seen immediately after the deal.
  • Mobile and broadband network architectures will change for delivering video.
  • Customers are expected to see competitive pricing, superior customer experience and video streaming on mobile devices.
  • Very confident in passing the acquisition by regulators. Highlighted that this will bring competition to cable companies.


  • Highlighted and emphasized the cost savings and growth opportunities that result from both companies that wouldn't be available any other way.
  • Latin American pay TV market opportunities were discussed and excited AT&T CEO Randall Stephenson.
  • The goal to deliver cost-effective video to all screens is the ultimate goal.
  • Will invest $9.0 billion in spectrum auctions, noted that this deal will not hinder on participating in this auction.

Posted-In: News M&A Events


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