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.
- Miami Marlins star pitcher José Fernández has died in a boating accident. He was 24.
- Monday night's presidential debate may be the last hope for environmental activists who want climate in the national conversation.
- US officials have determined al-Qaeda likely influenced suspected New York City bomber Ahmad Khan Rahami.