DirecTV (stylized as DIRECTV) is an American direct broadcast satellite service provider and broadcaster based in El Segundo, California. As of July 2015, it 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. After receiving approval from the United States Federal Communications Commission and United States Department of Justice, AT&T's acquisition of DirecTV in a transaction valued at $48.5 billion was completed on July 24, 2015.