Contact Your Financial Adviser Money Making MC
24
October 2016
Telecommunications giant AT&T on
Saturday agree to buy Time Warner, the home of HBO and CNN, for about USD85.4
billion, in one of the biggest media tie-ups ever. The Total Investment
& Insurance Solutions
The move will help AT&T expand
beyond wireless and Internet service into programming. Time Warner is the
parent of CNN, TNT, HBO, the Warner Bros. studio, and other channels and
websites, CNNMoney reported. The Total Investment & Insurance
Solutions
AT&T, which dates back to the
invention of the telephone in 1876, is one of the US' largest providers of
wireless phone and Internet service. It also recently acquired the DirecTV
satellite TV business. The Total Investment & Insurance Solutions
The deal will be subject to a review
by government regulators that could take more than a year to complete. The Total Investment
& Insurance Solutions
AT&T will pay $107.50 a share --
a big premium over where Time Warner stock was trading last week. Including
Time Warner's debt, the deal's value is $109 billion.
Executives at the two companies have
been in talks for several months. Word of the possible deal leaked out on
Thursday; AT&T executives were said to be eager to finish the talks before
the market opens on Monday morning.The Total Investment & Insurance
Solutions
No comments:
Post a Comment