NEW YORK – The head of the Federal Communications Commission has recommended approving AT&T's $48.5 billion purchase of DirecTV. The deal would create the country's largest provider of cable or satellite TV.
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The other four commissioners still have to vote on the proposal.
The company would have 26.4 million TV subscribers in the U.S., topping Comcast as well as a possible new giant, Charter, which wants to buy Time Warner Cable. It would also include AT&T's nationwide network of tens of millions of wireless customers, its Internet and landline phone services and DirecTV's millions of customers in Latin America, where AT&T wants to grow.
Consolidation has swept the industry as people increasingly turn to the Internet for video and content costs rise for cable and satellite TV companies.