DirecTV Chairman Open to Possible AT&T, Verizon Acquisition
November 23, 2009
DirecTV Group chairman John Malone has not ruled out selling the company to AT&T or Verizon Communications and believes the two phone companies have strong ties to the company's business model, according to a Bloomberg News report, released Nov. 19.
Our relationship will continue to broaden and intensify. It may lead to some more ownership-oriented relationship, or it may not," Malone said in the report.
DirecTV already offers pay television service to some Web and phone customers of AT&T and Verizon in the United States.
On Nov. 19, shareholders of DirecTV approved a transaction that would split parent company Liberty Media from Liberty Media Entertainment and its stake in DirecTV, which would simplify procedures for a potential takeover bid. Liberty and DirecTV expect the transaction to close by by the end of the year.