Saturday, October 22, 2016

WSJ: AT&T agrees to acquire Time Warner for >$80 billion, deal to be announced shortly

After a few days of deliberations, the Wall Street Journal is reporting that the deal is done. AT&T has agreed to buy Time Warner for more than $80 billion. This values Time Warner shares at around $105 each, a significant premium over the closing price of $89 on Friday. The deal will entrench the carrier further into the entertainment business; AT&T and Time Warner are expected to announce the acquisition as soon as later today.

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Filed under: Apple