Stories
Slash Boxes
Comments

SoylentNews is people

posted by cmn32480 on Sunday October 23 2016, @11:49AM   Printer-friendly
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.


Original Submission

 
This discussion has been archived. No new comments can be posted.
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
  • (Score: 1) by Francis on Monday October 24 2016, @02:12AM

    by Francis (5544) on Monday October 24 2016, @02:12AM (#418013)

    This is an argument against Trump? Clinton has a long history of the same sort of behavior, it's just that she's a lot more subtle about it.

    Anyways, TFS says that Trump is already against this merger, so I'm not sure how I'm wrong here.