AT&T Inc. announced an agreement with the DirecTV Group on May 18, 2014, to acquire the company for $48.5 billion in a joint cash-stock transaction and assumed debts of $18.6 billion for a total offer of $67.1 billion.[1][2] Due to stalling growth in the wireless sector, AT&T began diversifying into mass media to expand its consumer offerings.[3][4] After regulatory agencies approved the purchase on July 24, 2015, AT&T briefly became the largest Pay-Tv provider.[5] DirecTV was brought under AT&T's communication segment and DirecTV Now was launched on November 30, 2016, as an alternative to cord-cutting