The first of the big telecom mergers may be set for approval later this year as it looks like AT&T and federal lawmakers are on the same page when it comes to acquiring DirecTV.

The New York Post reported Monday that a source close to the regulatory process says AT&T has agreed to certain terms concerning the deal. The actual conditions, if there are any, were not disclosed, but the move does pave the way for an October closeout. Approval from the Federal Communications Commission (FCC) is still needed.

AT&T announced in May that it intends to buy DirecTV, the largest satellite-TV provider in the United States, for $48.5 billion. Combined with AT&T's U-Verse TV service, the new company would boast around 26 million customers.

AT&T and DirecTV aren't the only telecom giants looking to join forces. Comcast and Time Warner are in the midst of their own regulatory battle and recent efforts by Sprint to buy out T-Mobile fell through thanks to pressure against more consolidation.

The AT&T and DirecTV deal, however, seems to be going smoother than the rest. The companies have gotten the OK in several markets and seem to be able to leverage their different sectors in a way two cable companies or two wireless service providers cannot.

"This is not Comcast/Time Warner, this is not two cable companies getting together, this is not Sprint and T-Mobile," AT&T CEO and Chairman Randall Stephenson told a House Judiciary Committee panel in June.

"We're putting (DirecTV's satellite) TV product with our broadband wireless product. ... There is not a content player per se in this transaction."

The argument, while it seems to be working, is still not foolproof. Policy makers around the country are worried about too much consolidation stunting growth and raising prices.

"I urge you to carefully scrutinize AT&T's proposed acquisition of DirecTV to determine whether the deal is in consumers' best interests," said Senator Al Franken, a Democrat from Minnesota, in a July letter to the Department of Justice.

"If AT&T is permitted to acquire DirecTV, the combined entity will have enhanced power in virtually every corner of the telecommunications market-power that AT&T potentially could use to obtain an unfair advantage over consumers and competitors. As such, I have some concerns about this deal,"

A combined AT&T-DirecTV company would be second only to a combined Comcast-Time Warner entity that would service around 30 million Americans.

For more stories like this, follow us on Twitter!