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from the too-big-to-care-about-the-customer dept.
AT&T is expected to announce on Saturday evening that it will purchase Time Warner Inc. for over $80 billion:
AT&T Inc. has reached an agreement to buy Time Warner Inc. for $86 billion, according to a person familiar with the plans, in a deal that would transform the phone company into a media giant. The wireless carrier agreed to pay $107.50 a share, the person said. The deal is half cash and half stock, according to people familiar with the transaction.
[...] For Time Warner, the deal represents a victory for [Chief Executive Mr. Jeff Bewkes], 64, who took some heat from investors for rebuffing a takeover bid two years ago from 21st Century Fox at $85 a share. [...] A merger of the companies would be the most ambitious marriage of content and distribution in the media and telecom industries since Comcast Corp.'s purchase of NBCUniversal and would create a behemoth to rival that cable giant. A rigorous regulatory review is expected and the acquisition of Time Warner likely wouldn't close until late 2017, people close to the process said.
Donald Trump has said that he would block the proposed merger and other media company mergers.
Also at Washington Post, NYT, CNN, and Reuters.
Update: Confirmed by AT&T.
(Score: 0) by Anonymous Coward on Sunday October 23 2016, @09:39PM
Senator Paul Wellstone [wikipedia.org] was all about public service.
He always sought out the path that would do the most good for the greatest number of people.
There are those who are convinced he was killed for that.
He skipped a fundraiser to fly to the funeral of a working stiff.
The plane crashed killing him, his wife, and daughter.
Wellstone had been receiving death threats from Reactionaries since he took office.
The FBI had to sort through a whole bunch of leads before they finally dismissed foul play as a cause of the crash.
Many think they gave up too easily.
He campaigned for president multiple times.
We might have had this guy instead of the mostly-dreadful choices we have gotten since his day.
Painting an entire class with a broad brush is a dangerous practice.
Hey, the other day I conceded that all Capitalists aren't assholes. [soylentnews.org]
-- OriginalOwner_ [soylentnews.org]
(Score: 2) by The Mighty Buzzard on Sunday October 23 2016, @09:48PM
Hyperbole, man, hyperbole. But only just.
My rights don't end where your fear begins.