Bloomberg put the price tag at about $50 billion.
The Journal reported that the two sides are discussing a deal that AT&T would pay for using a mix of cash and its stock.
Bloomberg reported that DirecTV management would still run the company as part of AT&T.
DirecTV shares closed at $87.16 Monday.
- Dylann Roof has been formally charged with nine counts of murder for the Charleston church shooting last month.
- Britain marks 10 years since 52 people were killed in terrorist attacks in London.
- Harry Shearer, the voice of Mr. Burns on "The Simpsons," will rejoin the show. In May, he said he was leaving.