AT&T will acquire Time Warner for $85.4B in content play
AT&T said it will acquire Time Warner for US$85.4 billion, reflecting a continuing trend for the consolidation of communications and media companies. The deal aims to combine content from Time Warner, which has a film studio and a vast library of entertainment, with AT&T’s distribution network of mobile services, broadband and TV in the U.S., Mexico and Latin America, AT&T said late Saturday. Under the part cash, part stock deal, Time Warner shareholders will receive $107.50 per share under the terms of the merger, consisting of $53.75 per share in cash and $53.75 per share in AT&T stock. The transaction is expected to close by the end of 2017, and is subject to approval by Time Warner shareholders and review by the U.S. Department of Justice, AT&T said. Review from the Federal Communications Commission may also be required to the extent that FCC licenses may have to be transferred to AT&T under the deal.To read this article in full or to leave a comment, please click here


