AT&T Corp has said that it will begin selling Hughes Electronics Corp’s DirecTV satellite entertainment service and equipment to customers in four regions immediately and across the US by mid- summer. AT&T and DirecTV Inc also completed the agreement whereby AT&T has acquired a 2.5% stake in DirecTV for $137.5m with an option to increase it to 30% over five years depending on the number of DirecTV subscribers AT&T signs up. The service begins in Connecticut, Tampa-St Petersburg, Florida, Dallas and Los Angeles. AT&T has also signed a marketing agreement with US Satellite Broadcasting Co Inc, to offer customers its package of movies and original programming.
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