It was recently reported that AT&T were on the edge of buying Time Warner, and sources now suggest that an agreement has been reached for massive total of $80 billion dollars.
This deal will bring back memories from when AT&T bought DirecTV back in the days. The company will now have total control on the way things run on the Entertainment Landscape from this point onward.
According to a report from The Wall Street Journal, AT&T is expected to pay between $105 a share and $110 a share per Time Warner share in cash and stock. Its expected that both companies will be officially announcing the deal as early as Saturday evening.
If this deal follows through, AT&T will acquire the control of huge entertainment and news brands including HBO, Warner Bros. Entertainment, CNN, as well as DC Comics and Batman since it’s owned by Time Warner. This merger will undoubtedly have a major impact on the media and entertainment industry, and will have significant implications likewise on both the internet and entertainment sector.
Goes without saying, this news is HUGE. Further details pertaining to this will only be revealed once the official announcement is made. What do you make of this development? Share your views and opinions by commenting in the comments section below.