ATT buying Time Warner for 854 billion

first_imgNEW YORK  — Grab some popcorn — AT&T wants to take you to the movies.AT&T is buying Time Warner, the owner of the Warner Bros. movie studio as well as HBO and CNN, for $85.4 billion in a deal that could shake up the media landscape. The acquisition would combine a telecom giant that owns a leading cellphone business, DirecTV and internet service with the company behind some of the world’s most popular entertainment, including “Game of Thrones,” ‘’The Big Bang Theory” and professional basketball. It would be the latest in a scramble of tie-ups between the owners of digital distribution networks — think cable and phone companies — and entertainment and news providers, all aimed at shoring up businesses upended by the internet.The deal would make Time Warner the target of the two largest media-company acquisitions on record, according to Dealogic. The highest was AOL’s disastrous $94 billion acquisition of Time Warner at the end of the dot-com boom.Regulators would have to sign off on the deal, no certain thing. The prospect of another media giant on the horizon has already drawn fire on the campaign trail. Speaking in Gettysburg, Pennsylvania, Donald Trump vowed to kill it if elected because it concentrates too much “power in the hands of too few.”last_img read more