DirecTV (trademarked as DIRECTV) is an American direct broadcast satellite service provider based in El Segundo, California, and is a subsidiary of AT&T. Its satellite service, launched on June 17, 1994, transmits digital satellite television and audio to households in the United States, Latin America, and the Caribbean. Its primary competitors are Dish Network and cable television providers. On July 24, 2015, after receiving approval from the United States Federal Communications Commission and United States Department of Justice, AT&T acquired DirecTV in a transaction valued at $67.1 billion.