Roger Yu

USA TODAY

AT&T has started discussions with DirecTV to possibly buy the satellite-TV operator, according to a report in The Wall Street Journal.

Citing unnamed sources, the paper reported Wednesday evening that DirecTV would be "open to a deal."

AT&T and DirecTV couldn't be reached for comment. However, if confirmed the move would be the latest sign of possible changes for the television industry, which is going through a period of consolidation.

DirectTV shares were up nearly 6% at $82.14 in mid-morning trading Thursday. Shares of AT&T were up fractionally at $35.75.

If the two sides ever come to an agreement, it would be one of the largest — if not the largest — pay-TV industry acquisitions, possibly even surpassing Comcast's deal to buy Time Warner Cable for $45 billion.

As of Wednesday, DirecTV's market value totaled about $39.6 billion.

DirecTV, based in El Segundo, Calif., had $8.6 billion in revenue last year and provides satellite-TV service to about 20 million subscribers in the U.S. and 17 million in Latin America.

In March, unconfirmed reports surfaced that Dish Network was potentially interested in a merger with DirecTV.

Dallas-based AT&T's U-Verse TV service, which uses fiber optic lines, gained 201,000 customers in the first quarter to reach 5.7 million. AT&T is the U.S.'s largest telecoms operator.