Key Developments: DIRECTV (DTV.O)

DTV.O on Nasdaq

22 Jul 2014
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Latest Key Developments (Source: Significant Developments)

AT&T Inc enters into agreement to acquire DirecTv
Sunday, 18 May 2014 04:56pm EDT 

AT&TInc and DIRECTV:Enters into definitive agreement under which AT&T will acquire DIRECTV in stock-and-cash transaction for $95 per share based on AT&T's closing price on May 16.Agreement has been approved unanimously by boards of both companies.Says DIRECTV shareholders will receive $95.00 per share under terms of merger, comprised of $28.50 per share in cash and $66.50 per share in AT&T stock.Says stock portion will be subject to collar such that DIRECTV shareholders will receive 1.905 AT&T shares if AT&T stock price is below $34.90 at closing and 1.724 AT&T shares if AT&T stock price is above $38.58 at closing.Says if AT&T stock price at closing is between $34.90 and $38.58, DIRECTV shareholders will receive a number of shares between 1.724 and 1.905, equal to $66.50 in value.Says this purchase price implies total equity value of $48.5 bln and total transaction value of $67.1 bln, including DIRECTV's net debt.Says AT&T intends to finance the cash portion of transaction through combination of cash on hand, sale of non-core assets, committed financing facilities and opportunistic debt market transactions.To facilitate regulatory approval process in Latin America, AT&T intends to divest interest in América Móvil.Says transaction is expected to close within about 12 months.  Full Article

DIRECTV gives FY 2014 EPS outlook above analysts' estimates-Conference Call
Thursday, 20 Feb 2014 01:00pm EST 

DIRECTV:Expects FY 2014 earnings per share will increase in the midteen range from the $5.22 reported in FY 2013.FY 2014 EPS of $5.94 - Thomson Reuters I/B/E/S.  Full Article

Marathon Patent Group Inc's wholly owned subsidiary CRFD Research, Inc., files patent infringement lawsuits against AT&T, Comcast, DirecTV, Time Warner Cable and several other companies
Friday, 17 Jan 2014 06:51pm EST 

Marathon Patent Group Inc:Says that its wholly owned subsidiary CRFD Research, Inc., has filed patent infringement lawsuits against AT&T, Comcast, DirecTV, Time Warner Cable, Dish Networks, Cox Communications, Level 3 Communications, Akamai Technologies, Cablevision and Limelight Networks.Says CRFD Research has filed ten patent infringement lawsuits in the United States District Court for the District of Delaware.Says CRFD Research is asserting infringement related to U.S. Patent numbers 7,191,233, entitled 'System for automated, mid-session, user-directed, device-to-device session transfer system', and U.S. Patent numbers 7,574,486, entitled 'Web Page Content Translator.Says Mishcon de Reya New York LLP has been retained as litigation counsel.  Full Article

DirecTv Reaffirms FY 2013 EPS Guidance-Conference Call
Tuesday, 5 Nov 2013 02:00pm EST 

DirecTv announced that looking at the remainder of 2013, the Company expect that its most recent fiscal 2013 guidance to remain basically intact, with the exception of net subscriber additions. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EPS of $4.73 for fiscal 2013.  Full Article

DirecTv Reaffirms FY 2013 EPS Guidance-Conference Call
Thursday, 1 Aug 2013 02:00pm EDT 

DirecTv announced that it is confident that excluding one-time items such as the Venezuela devaluation charge, the Company will deliver on its full year earnings per share (EPS) target of $5 in fiscal 2013.  Full Article

DirecTv and Others Race To Buy News Corp And Walt Disney Co's Hulu-Reuters
Monday, 8 Jul 2013 09:19pm EDT 

Reuters reported that News Corp and Walt Disney Co owned Hulu has attracted three bids of over $1 billion from suitors including a partnership of AT&T Inc and Chernin Group, the Wall Street Journal reported. The three highest bidders also include DirecTV and Guggenheim Digital Media which is jointly bidding with private equity firm KKR & CO LLP the Journal said. The deal could be sealed in a week or two after the deadline for bids ends this week, it added.  Full Article

DirecTv Acquires Home Security Company-Reuters
Tuesday, 4 Jun 2013 04:37pm EDT 

Reuters reported that DirecTv acquires security systems company lifeshield home security. It will start marketing home security products to new customers in the first quarter of 2014. Terms of the contract were not disclosed.  Full Article

DirecTv Two Others Bid Over $1 Billion For News Corp And Walt Disney Co's Hulu-Reuters
Saturday, 1 Jun 2013 08:23am EDT 

Reuters reported that DirecTV and two other bidders have offered more than $1 billion apiece to buy Hulu, a source with knowledge of the bidding process said on Friday, increasing the likelihood that owners News Corp and Walt Disney Co will be able to shed the video streaming service they failed to sell in 2011. Hulu board members, who are being advised by Guggenheim Partners on the auction, fielded at least seven buyout offers last week. It was unclear which two other bidders offered $1 billion for Hulu. The service has more than 4 million subscribers and generates revenue of about $700 million through subscriptions and a free ad-supported service. The proposed price tag heightens the likelihood that News Corp and Disney will find an acceptable offer price, which was the sticking point of the 2011 round of buyout negotiations.  Full Article

DirecTv's DIRECTV Holdings LLC and DIRECTV Financing Co., Inc. Close Offering Of EUR500 Million Senior Notes
Monday, 20 May 2013 04:35pm EDT 

DirecTv's DIRECTV Holdings LLC and DIRECTV Financing Co., Inc. announced the closing of their public offering of EUR500 million aggregate principal amount of 2.750% Senior Notes due 2023 (the Notes). The Issuers intend to use the net proceeds from the offering for general corporate purposes, which may include a distribution to DIRECTV for its share repurchase plan and other corporate purposes.  Full Article

DirecTv Reaffirms FY 2013 EPS Guidance-Conference Call
Tuesday, 7 May 2013 02:00pm EDT 

DirecTv announced that for fiscal 2013, it expects earnings per share (EPS) to be $5 or greater.  Full Article


House passes satellite TV law reauthorization bill

WASHINGTON - The House of Representatives on Tuesday voted to reauthorize a law allowing satellite providers such as Dish Network Corp and DirecTV to bring in TV signals from other markets when subscribers cannot pick up local stations.

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