AT&T Inc.
 (T)

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  • Jul. 14, 2013, 2:21 AM
    Trading volume in Leap Wireless (LEAP) options leapt to 7,139 contracts vs an average of 1,320 contracts on Friday prior to the announcement that AT&T (T) has agreed to acquire the smaller carrier for $1.18B. The call-to-put ratio  was 20-1. "It appears that prior knowledge of this takeover may have been leaked and traded on," says options analyst Ophir Gottlieb. The authorities are pretty good at identifying the people who carry out these trades, including with deals involving Onyx Pharmaceuticals and Heinz.
    | Jul. 14, 2013, 2:21 AM | 9 Comments
  • Jul. 12, 2013, 5:23 PM

    More on AT&T/Leap: AT&T is paying $1.18B for Leap's equity, and assuming $2.8B in net debt. Leap shareholders will also receive net proceeds from the sale of spectrum Leap bought for $204M last August. Leap has 5M prepaid subs on a network covering 96M people, and AT&T says it will keep the Cricket brand and expand its reach. But this deal is mostly about acquiring Leap's spectrum (covers 137M people), much of which is unused and could be of use in AT&T's 4G buildout, especially in urban areas. Expect the FCC to closely scrutinize the deal; will new leadership yield a different outcome than the one for the T-Mobile deal? LEAP now +106.5% AH to $16.48, investors are betting on a higher bid. TMUS +4.1%. T -0.4%. (PR)

    | Jul. 12, 2013, 5:23 PM | 3 Comments
  • Jul. 12, 2013, 5:07 PM

    AT&T (T) is buying Leap Wireless (LEAP) for $15/share in cash. LEAP +88% AH to $15. Sprint (S) +1.7%. T-Mobile USA (TMUS) +0.4%.

    | Jul. 12, 2013, 5:07 PM | 6 Comments
  • Jul. 12, 2013, 1:26 PM

    Hulu's old media owners (DIS, CMCSA, FOXA) have decided not to sell the company, or even a stake in it, and will instead provide a $750M cash infusion while maintaining their current equity positions. Reported demands for a slew of streaming/licensing restrictions likely helped scuttle buyout/investment talks with the likes of DirecTV (DTV), Time Warner Cable (TWC), and AT&T/Chermin (T), much as they helped scuttle 2011 talks. Netflix (NFLX +4.4%) is probably pleased. (previous)

    | Jul. 12, 2013, 1:26 PM | 18 Comments
  • Jul. 9, 2013, 3:31 AM

    Hulu has reportedly received acquisition offers from DirecTV (DTV) and a consortium comprising Guggenheim Digital Media and private-equity firm KKR (KKR), as well as from a group made up of AT&T (T) and Chernin. Time Warner Cable (TWC) offered to acquire a stake and become an investor alongside Hulu's owners, 21st Century Fox (FOXA), Disney (DIS) and Comcast (CMCSA). There's no word on bid amounts, although DirecTV has offered over $1B in the past.

    | Jul. 9, 2013, 3:31 AM
  • Jul. 7, 2013, 1:09 AM

    AT&T (T) and Chernin Group have reportedly submitted a joint offer to acquire Hulu from Disney (DIS), 21st Century Fox (FOX) and Comcast (CMCSA), although it's not clear if the previous suitors of the Internet video service made bids ahead of the deadline on Friday for binding proposals. Those suitors include DirecTV (DTV), Yahoo (YHOO), Time Warner Cable (TWC) and KKR (KKR). Chernin is led by Peter Chernin, who founded Hulu when he was a senior exec at News Corp. (Previous)

    | Jul. 7, 2013, 1:09 AM | 13 Comments
  • Jul. 5, 2013, 6:29 PM
    History repeats: Hulu's (DIS, CMCSA, NWS) old media owners are looking to place licensing restrictions in any deal with an acquirer, the WSJ reports. One source claims the owners want to place restrictions on 1 of their top 5 shows for a given season, and another in the 6-10 range. They also want a 30-day delay before shows are made available on Hulu's free service to cord-cutters, and to cap the length of content licensing deals for Hulu Plus to 2 years and free Hulu to 5 years. Naturally, the restrictions are said to be "a major factor" in how bidders such as DirecTV (DTV) have evaluated Hulu. Hulu's 2011 buyout talks collapsed in part due to squabbles over content deals. (earlier)
    | Jul. 5, 2013, 6:29 PM | 1 Comment
  • Jul. 3, 2013, 2:00 PM

    Verizon's (VZ) rumored plan to expand into Canada could pay for itself just via roaming fee savings, thinks BMO's Kevin Manning. Manning estimates Verizon paid $300M-$350M in 2012 roaming fees, a range equal to 1/6 to 1/7 of the $2B he thinks Big Red would have to spend to become a Canadian mobile player. He sees the savings adding $0.06-$0.10 to EPS. Meanwhile, Macquarie thinks both Verizon and AT&T (T) are looking to make acquisitions before interest rates rise (presumably thanks to Ben Bernanke's plan to wind down QE). "Everyone is talking to everyone and nothing is off the table." (Verizon/Vodafone) (AT&T/Europe)

    | Jul. 3, 2013, 2:00 PM | 1 Comment
  • Jul. 3, 2013, 10:07 AM

    Leap Wireless (LEAP +3.4%) jumps following an upgrade to Neutral from Macquarie's Kevin Smithen, which thinks the odds of a $10+/share acquisition by T-Mobile USA or Dish have grown. Smithen thinks the recent run-up in T-Mobile (TMUS) shares has made a deal easier for the #4 U.S. carrier to swallow, and considers the concentration of Leap's equity in a few holders "both a catalyst and an obstacle for a sale." He cautions Leap's "already eroding operating business" could be further pressured by T-Mobile's plans to enter Leap markets (via MetroPCS), but adds it could "drive Leap's Board and key holders to sell now."

    | Jul. 3, 2013, 10:07 AM
  • Jun. 20, 2013, 4:37 PM

    AT&T (T) considered buying up to a 29.9% stake in Telefonica (TEF) before the Spanish government said no, has mulled buying France Telecom (FTE)/Deutsche Telekom's (DTEGY.PK) Everything Everywhere U.K. mobile JV and Telefonica's O2 U.K. unit or Latin American ops, and "remains interested" in Vodafone (VOD) assets, Bloomberg reports. A merger with Telefonica has also been explored, even though AT&T's ties with America Movil (AMX) would complicate matters. Meanwhile, the FT reports CEO Randall Stephenson is meeting with EC telecom regulator Neelie Kroes. It safe to assume Ma Bell is serious about expanding abroad in order to offset slumping U.S. growth. (previous)

    | Jun. 20, 2013, 4:37 PM | 3 Comments
  • Jun. 13, 2013, 12:02 PM
    A deal which will see DirecTV (DTV +0.1%) purchase Hulu (CMCSA, DIS, NWS) by the end of the month is imminent, sources tell PandoDaily. The acquisition would fill a large void in DirecTV's offerings which would be difficult to build from ground up and also allow it to play some defense against Hulu falling into a rival's hands.
    | Jun. 13, 2013, 12:02 PM | 3 Comments
  • Jun. 6, 2013, 11:13 AM

    AT&T (T) has reportedly joined the ranks of companies weighing bids for Hulu (DIS, CMCSA, NWS): sources tell Kara Swisher Ma Bell is in talks with a company run by former News Corp. COO Peter Chermin to make a joint offer for the online video site. But before investors start mulling the potential U-verse and mobile implications, it should be noted Yahoo, DirecTV, Time Warner Cable, and Guggenheim Partners have also been named as interested parties in recent weeks. (previous)

    | Jun. 6, 2013, 11:13 AM | 1 Comment
  • Jun. 5, 2013, 8:59 AM

    DirecTV (DTV) buys LifeShield Home Security in what looks like a bid by the company to enter the home security business. Terms of the deal weren't disclosed. DTV -0.9% premarket.

    | Jun. 5, 2013, 8:59 AM | 1 Comment
  • Jun. 2, 2013, 2:53 AM

    Satellite operator DirecTV (DTV) and two other unidentified suitors have reportedly bid over $1B each to acquire Hulu. The owners of the online video service, which are News Corp (NWS), Disney (DIS) and Comcast (CMCSA), have received seven offers for the company, and intend to cut the shortlist down over the next few weeks. Previous reports have said that other bidders include Yahoo (YHOO), KKR (KKR) and Time Warner Cable (TWC).

    | Jun. 2, 2013, 2:53 AM | 5 Comments
  • May 17, 2013, 4:11 PM
    DirecTV (DTV) has joined the ranks of companies weighing a bid for Hulu (DIS, NWS, CMCSA), with an eye towards expanding its arsenal of TV Everywhere content, the WSJ reports. The scoop shortly follows a report Time Warner Cable and other MSOs are talking about a possible bid.
    | May 17, 2013, 4:11 PM
  • May 16, 2013, 11:07 AM

    Deutsche Telekom (DTEGY.PK) can sell its 74% stake in T-Mobile USA (TMUS +2.5%) prior to the end of an 18-month lockup period if it receives a buyout offer for the entire stake, says CFO Timotheus Hoettges. The comments seem to be giving a lift to the #4 U.S. carrier. T-Mobile CFO Braxton Carter recently stated his company wanted to extend the footprint of the MetroPCS brand by ~100M POPs over the next 6 quarters. T-Mobile is counting on 4G support to give MetroPCS an edge over prepaid rivals such as Leap (LEAP) and AT&T's 3G-only Aio prepaid service.

    | May 16, 2013, 11:07 AM | 1 Comment
Company Description
AT&T Inc, through its subsidiaries and affiliates, provides wireless and wireline telecommunications services in the United States and internationally. The Company has three reportable segments: Wireless, Wireline, and Other.