The two companies, which have flirted in the past, are awaiting board approval on the transaction -- valued at close to $50 billion -- that would make telecommunications giant AT&T a major player in the pay-TV business.
An agreement could be reached as early as Sunday, confirmed a person close to the talks who requested anonymity because of the sensitivity of the matter. The two companies started talking this year, and the discussions have heated up in the last two weeks.
Another reason DirecTV appeals to AT&T is the cash it generates. In 2013 the company posted $8 billion in profit on $32 billion in revenue.
Just a few months ago, Comcast reached an agreement to acquire
"The continued centralization of control over our nation's media and communications industries is nothing more than a recipe for disaster," Derek Turner, research director of the media reform group Free Press, said in an interview this month.
AT&T, Moffett wrote, is in "dire need of a cash producer to sustain their dividend." However, Moffett is not sure now is a good time for AT&T to try to be a bigger player in television.