DirecTV and Dish Merger Would Hurt AT&T, Analyst Says [telecom]

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JPMorgan's Philip Cusick says "dis-synergistic" deal would pull satellite company away from U-verse

By Daniel Frankel

While decision makers for AT&T and Dish Network are reportedly open to combining their eroding satellite TV operations, such a deal would not be favorable for AT&T, according to JPMorgan analyst Philip Cusick.

"We believe the dis-synergies of pulling DirecTV away from AT&T's U-verse in buying power would be value destructive," Cusick said in a note to investors today.