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UPDATE 1-U.S. House panel to hold hearing on AT&T deal for DirecTV
June 4, 2014 / 9:51 PM / 3 years ago

UPDATE 1-U.S. House panel to hold hearing on AT&T deal for DirecTV

(Adds background on telecom mergers, details on regulatory review)

By Diane Bartz

WASHINGTON, June 4 (Reuters) - The U.S. House of Representatives Judiciary Committee will hold a hearing on June 24 to discuss AT&T’s proposed deal to buy DirecTV, the panel said on Wednesday.

The $48.5 billion deal would combine the second-largest U.S. wireless carrier with the No. 1 satellite TV provider.

Witnesses will include AT&T Chief Executive Randall Stephenson and DirecTV CEO Michael White, the committee said in a statement.

AT&T and DirecTV announced their planned deal on May 18, just a few months after Comcast Corp offered $45 billion for Time Warner Cable Inc, a transaction that would create the leading U.S. cable and broadband Internet powerhouse.

Both deals must win approval from antitrust regulators and the Federal Communications Commission in order to go forward. Congress has no decision-making power in the regulatory review. (Reporting by Diane Bartz; Editing by Ros Krasny and Sandra Maler)

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