Morning Media Newsfeed: AT&T Advances DirecTV Talks | AP Expands | BuzzFeed President Out

[emailonly]{{{ sbox300x250 }}}[/emailonly] Click here to receive Mediabistro’s Morning Media Newsfeed via email.

AT&T Said to Be in Talks to Buy DirecTV for About $50 Billion (Bloomberg)
AT&T Inc. is in advanced talks to acquire DirecTV, the largest U.S. satellite-TV provider, for about $100 per share, according to people familiar with the matter. WSJ A takeover of DirecTV could put a value of nearly $50 billion on the satellite-television provider. The two sides are discussing a deal that would involve a mix of cash and AT&T stock, the people said. Dallas-based AT&T would likely pay a premium to DirecTV’s share price Monday, one of the people said. An agreement could be reached in two weeks if not sooner, according to the people. GigaOM AT&T’s plan is to turn the satellite company into an AT&T unit, and keep management on board to run that unit, with plans for DirecTV’s chief executive Mike White to retire in 2016. The acquisition report, which neither company is commenting on, comes after three months after Comcast announced that it was going to acquire Time Warner Cable in a $45 billion deal. Variety Analysts have speculated that AT&T could migrate its 5.7 million U-verse TV subscribers to DirecTV’s satellite-delivered service, freeing up bandwidth in its terrestrial data networks. With 26 million pay-TV subscribers, AT&T also would gain leverage in programming negotiations on part with a merged Comcast-TWC. Reuters DirecTV shares rose 6 percent to $92.50 in extended trading on Monday.

AP Announces Expansion of Investigative Reporting Efforts (The Associated Press)
The Associated Press is deepening its commitment to investigative journalism by expanding its Washington-based investigative team, enlarging another group focused on national stories and launching a unit of international reporters to pursue in-depth projects across borders. FishbowlDC The revamped mission will be “to develop investigations around breaking news events across the globe and produce exclusive reports that expose wrongdoing and illuminate social issues,” according to the announcement. The wire service also said that it plans to share some of the data from investigative reporting with member news organizations to help them produce their own local content. Politico / Dylan Byers on Media Joining the AP’s Washington investigative team are Ronnie Greene of the Center for Public Integrity and Jeff Horwitz, recently a Knight-Bagehot fellow at Columbia University. The AP is also reorganizing its U.S. and international investigations team with current AP reporters. Poynter / MediaWire The U.S. investigations team is expanding to include reporters in New Orleans, San Francisco and Jackson, Miss. Additions to the international team include reporters in Peru, Shanghai and London.

BuzzFeed President to Step Down (Politico / Dylan Byers on Media)
BuzzFeed president and chief operating officer Jon Steinberg will step down and take on an advisory role with the company, according to an internal memo provided by a BuzzFeed spokesperson. Business Insider He will continue to serve as an advisor to BuzzFeed and Lerer Ventures. Additionally, BuzzFeed said Steinberg will move on to “new challenges in the Web and media space.” AdAge No successor has been named. Steinberg is a former Google executive, who joined BuzzFeed in 2010 after less than a year with Polaris Venture Partners. He helped build the site’s revenue strategy of helping to create and spread content for brands, such as sponsored lists and videos intended to be highly shareable. WSJ / CMO Today Under Steinberg and chief executive Jonah Peretti, BuzzFeed has made waves in the ad world through “native advertising,” whereby brands create content designed to look like regular posts. The company this year presented its video strategy to advertisers at the NewFronts, and while it is perhaps known more for cute animals and feel-good listicles, BuzzFeed has invested in hard news including foreign correspondents and Pulitzer winners.