AT&T, DirecTv extend 'termination date' for second time. Tthe deal highlights AT&T's pressing need for fresh avenues of growth beyond the maturing U.S. cellular business which has become increasingly competitive.!!!!!!!!
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Merger termination dates, which are often referred to as "outside" dates are just standard components of formal merger agreements. Extending the date for DirectTV & Ma Bell was a foregone conclusion. The term date is more of a concern for entities trying to secure funding to make the acquisition or situations where stagnant deals start to negatively effect stock prices etc. In this case the crux of the matter completely stems around DOJ & FCC approval. They're just waiting for the government to bless or spit on the deal. BTW, it appears that it has been blessed:
http://www.dslreports.com/shownews/Report-DOJ-To-Approve-ATT-DirecTV-Deal-Without-Conditions-134366: