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Wednesday, June 11, 2014

AT&T defends DirecTV deal to U.S. regulators, (NYSE: T)

AT&T Inc's acquisition of DirecTV would offer consumers access to video in a variety of media and give the company scale to compete with larger cable competitors, AT&T told U.S. regulators on Wednesday. AT&T, the No. 2 wireless carrier, outlined why its proposed $48.5 billion acquisition of the largest U.S. satellite TV provider would benefit consumers in a filing with the Federal Communications Commission, which will examine whether the merger is in the public interest."Each company cannot provide on its own what consumers increasingly demand: an integrated and efficient bundle of high-speed broadband and high-quality video from a single provider," AT&T said in the filing.A merger would allow customers to save on services through wireless, wireline and television bundles AT&T cannot provide because of its limited video footprint, the company said.The merger will also face an antitrust review at the U.S. Department of Justice, where critics are expected to raise questions about the areas where AT&T's and DirecTV's TV services overlap.

AT&T Inc. (AT&T), is a holding company. The Company is a provider of telecommunications services. Shares of T fell by 0.37% or $-0.13/share to $34.81. In the past year, the shares have traded as low as $31.74 and as high as $36.86. On average, 27898700 shares of T exchange hands on a given day and today's volume is recorded at 16329709.