DirecTV, Dish Are Said Close to Clinching Merger Agreement (1)

DirecTV and Dish are in advanced talks to merge in a deal that would create the largest US pay-TV provider, with almost 20 million subscribers, people familiar with the matter said.

An agreement could be announced as soon as the coming days, according to the people, who asked not to be identified discussing confidential information. DirecTV is in talks to control the combined entity, which will be closely held, the people said.

DirecTV, founded in 1994 by Hughes Electronics, is owned by AT&T Inc. and TPG Inc., and has about 11 million customers. Dish, started in 1980 by billionaire ...