zerohedge.com / by Tyler Durden / Oct 22, 2016 1:59 PM
As had been leaked over the past two days, moments ago the WSJ confirmed that AT&T has agreed to buy Time Warner in a deal worth more than $80 billion, or between $105 and $110 per share, with the transaction set to be announced “as soon as Saturday evening.”
The boards of the two companies are meeting on Saturday to approve the transaction, the WSJ said citing people familiar. The $80BN deal is half cash and half stock. The transaction brings together millions of AT&T wireless and pay-TV subscribers – recall AT&T’s most recent mega deal was its $50 billion acquisition of DirectTV – with Time Warner’s dep content and media lineup, including networks such as CNN, TNT, the cash cash that is HBO and Warner Bros. film and TV studio.
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