AT&T Agrees to Buy Time Warner for $85.4 Billion

Telecommunications giant AT&T agreed to buy Time Warner for about $85.4 billion to expand beyond it’s wireless and Internet service into programming. It is one of the biggest media tie-ups ever. 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. Time Warner is the parent of CNN,

TNT, HBO, the Warner Bros. studio, and other channels and websites, CNNMoney.

AT&T Agrees to Buy Time Warner for $85.4 Billion