AT&T to Acquire Leap for $1.2B in Cash

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July 12 (Bloomberg) -- AT&T agreed to buy Leap Wireless International for $1.2 billion, giving the company 5 million customers, more airwaves and a larger piece of the pay-as-you-go market. Su Keenan reports on Bloomberg Television's "Bottom Line." (Source: Bloomberg)

Up 21 points, .6 percent.

We go to bloomberg's su keenan for the details.

Bill rally in the regular session and excitements after the bell, as a deal comes together in the wireless industry.

We've seen a flurry of these deals of late, this one at&t, the second largest wireless carrier, agreeing to buy leap wireless for $15 a share, giving the company five million new customers, more airwaves and a piece of the pay-as-you-go market.

The real payoff comes for shareholders.

Check it out.

Leap has doubled in price on the news in extended trading, more than doubled.

And the biggest shareholder benefiting right now, m.r.h. fund with almost 30% stake.

Paulson and blackrock have close to a 10% stake each.

A group of media companies called off their sale of the video streaming service and instead investing $750 million in the company.

We believe that by attracting great people, continuing to attract great people, hulu has attracted great people, and make sure we have great technology, a user-friendly interface, this thing could really turn out to be something big.

Could turn out to be big.

Apparently they think the future is so bright for hulu they're deciding to keep the company, and iger sees aggressive growth ahead.

One of the stocks you might wished you owned today, revenue and profit will be higher than previously forecast.

U.p.s., we talked about that, down 6%, dropping the most since 2010. the world's biggest package delivery company cutting its 2013 earnings forecast.

Mark?

Su, we mentioned the banking rally.

What's the story there?

All about earnings.

Wells fargo reported earnings that topped estimates and financial stocks became one of the biggest gaining groups of the day.

J.p. morgan chase a slightly different story.

Jamie dimon warns investors that it could lead to a dramatic reduction in the banks's profits.

Shares fell roughly 1/3 of a percent.

Citigroup earnings on monday,

This text has been automatically generated. It may not be 100% accurate.

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