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DirecTV: AT&T Merger Completed 'Shortly'

DirecTV and AT&T have agreed to a brief extension of the termination date of their merger, adding in a filing with the Securities and Exchange Commission that it expects the $48.5 billion deal to be consummated shortly.

In a brief statement filed June 30, the satellite giant said the parties had agreed to an unspecified extension to the deal. The merger was expected to receive approval on June 30, but sources have said that it could bleed into early July.

The deal, which will create a satellite TV and wireline communications powerhouse with more than 26 million video customers, was not expected to receive much pushback from the Federal Communications Commission (see "Sources: FCC Poised To OK AT&T-DirecTV Merger.")