While most of Wall Street has yawned at the recent deal involving a big telecom and a media giant, the bottom line is that there is a growing interest in companies that deliver services for communication to add content. The combination of the two, and the convergence of everything streaming, has kicked off a potential revolution that could produce numerous mega-deals over the next couple of years.

A recent Stifel research piece makes the case that between the big backup in telecom companies’ stock prices and the attractive content that the big media companies can offer, investors may have a solid opportunity now to buy top stock that also pay outstanding dividends. These five companies look extremely attractive, and they all pay great dividends.

AT&T

This company has had an incredible run this year but is off over 10% in less than six weeks. AT&T Inc. (NYSE: T) is the world’s largest provider of pay TV, with TV customers in the United States and 11 Latin American countries. In the United States, the AT&T wireless network has the nation’s self-described strongest 4G LTE signal and most reliable 4G LTE. The company also helps businesses worldwide serve their customers better with mobility and highly secure cloud solutions.

With its shares trading at a very cheap 14.3 times estimated 2016 earnings, the company continues to expand its user base, and strong product introductions from smartphone vendors have not only driven traffic but increased device financing plans.

AT&T has several major catalysts that likely will drive strong network traffic demand: DirecTV Now and Mobile, “Data-Free TV” for DirecTV/U-verse subscribers and increasing penetration of unlimited data plans. Many on Wall Street believe that the company is well-positioned to address ongoing traffic requirements, with additional LTE capacity available and the ability to leverage small cell deployments.

The company announced a deal to Buy Time Warner for about $80 billion, which translates to about $105 to $110 per share. Two years ago, Time Warner rebuffed a takeover bid from 21st Century Fox at $85 per share. The chatter started on Thursday and carried into Friday, with a deal being announced over the weekend. The stock was hammered on Friday, after already being knocked down as the fear of rising rates hit the telecoms.

AT&T investors receive a 5.33 % dividend. The Wall Street consensus price objective is $41. Shares closed Monday at $36.79.

CBS

This large cap broadcaster has bounced nicely off the lows and still could be an incredible value. CBS Corp. (NYSE: CBS) may be in the best position of all the broadcast networks with an outstanding prime time lineup, solid sports franchises like the NFL, March Madness College Basketball, The Masters and other top programming, the venerable network could once again be an outstanding stock for shareholders.

The company is leading in the spring ratings and is poised to continue the network’s programming dominance in 2016. The broadcasting giant is now in the midst of a significant stock repurchase process, and many on Wall Street expect the company to shrink its share base by around 25% over the next two years.

Network advertising and strong content licensing revenue drove the upside in the third-quarter earnings, which beat consensus estimates despite a slight revenue miss. Similar to the broadcasting giant’s rivals, many analysts expect CBS to look to book content licensing more evenly over this year and into 2017. Many on Wall Street also see the possibility of the company reuniting with Viacom.

CBS shareholders receive a 1.27% dividend. The consensus target price is $63. Shares closed Monday at $56.62.
Comcast

This is another broadcasting-related stock that could have solid upside potential. Comcast Corp. (NASDAQ: CMCSA) is one of the nation’s largest video, high-speed internet and phone provider to residential customers under the XFINITY brand and also provides these services to businesses. Comcast has invested in technology to build an advanced network that delivers among the fastest broadband speeds and brings customers personalized video, communications and home management offerings.

Comcast has consistently been growing earnings substantially with extremely strong content revenue growth. Increased revenue at NBC Universal is also giving the company some earnings tailwinds, and a growing sports lineup is adding to revenues.

Some top Wall Street analysts see cable giants like Comcast as a top growth story that still has plenty of room to run, as well as generating solid earnings to support continued stock buybacks.

Comcast investors receive a 1.7% dividend. The consensus price objective is $75.58. Comcast closed trading on Monday at $61.82.

Disney

This top consumer media company has multiple streams of income to push revenue. Walt Disney Co. (NYSE: DIS) is down for the year and may be offering investors the best entry point in some time. With the movie studio business poised to improve, as with accelerating theme park business, the network programming continues to drive viewership with extensive sports programming. Combining that revenue growth with the company’s solid media networks and interactive presence, and 2017 revenue estimates could be conservative.

The Disney Media Networks segment operates broadcast and cable television networks, domestic television stations and radio networks and stations, and it is involved in the television production and television distribution operations. Its cable networks include ESPN, Disney Channels and ABC Family, as well as UTV/Bindass and Hungama. This segment also owns eight domestic television stations. Disney is also one of 24/7 Wall St. top ten stocks to own for the next decade.

Disney shareholders receive a 1.51% dividend. The consensus price objective is $107.04. Shares closed at $92.69.

Verizon

This top telecommunications company is also discounted and offers a big dividend. Verizon Communications Inc. (NYSE: VZ) is a global leader in delivering the digital world. Verizon Wireless operates America’s self-described most reliable wireless network, with 109.5 million retail connections nationwide. Verizon also provides converged communications, information and entertainment services over America’s most advanced fiber-optic network, and it delivers integrated business solutions to customers worldwide.

The company reported solid third-quarter earnings; however, revenues came in short of Wall Street and Merrill Lynch expectations. Verizon also recently announced the purchase of Yahoo’s core operating business for $4.8 billion in cash. The analysts feel it plays into Verizon’s strategic drive to expand into advertising and content, and they also think the transaction is largely immaterial from a financial perspective.

Verizon investors receive a 4.8% dividend. The consensus price objective is $53.48. The shares closed Monday at $48.10.

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One way or another, it looks like the big deals involving telecom and media could continue to be forthcoming. Even if the AT&T and Time Warner deal falls through, you can bet other companies will be looking to combine content with communications services.

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