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.
Under the plan being discussed, 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.