Rumors have circulated for the past few weeks about the potential massive deal, but now Bloomberg said that the two companies are in “advanced talks,” and are planning a 12-month regulatory process. The Wall Street Journal reported something similar earlier this month, but at a $40 billion valuation.
DirecTV has more than 38 million cable subscribers and posted $7.86 billion in revenue last quarter. The El Segundo, Calif.-based company has numerous other partnerships, including a big one with the NFL.
If the deal goes through, it won’t be the first huge cable TV-related deal in 2014. In February, Comcast acquired Time Warner Cable for $45.2 billion.
Shares of DirecTV are up more than 5 percent in after hours trading.