Rumors have been circulating for a while of AT&T in talks to acquire Time Warner and it seems that they are true. The Wall Street Journal is now reporting that the two companies have struck a deal. And AT&T is now set to buy Time Warner and all of its properties for over $80 billion.
AT&T appears to be paying around $105 a share and the deal could be confirmed as early as this evening. The wireless carrier already owns DirecTV and this acquisition would push them further into entertainment.
Time Warner owns a plethora of properties like CNN, TBS, Batman, and HBO just to name a few. This deal would be on the same level as Comcast’s acquisition of NBC Universal. And it does bring up some concerns about the internet and those who provide it. For instance will certain streaming services not be throttled or enjoy faster speeds?
As with any acquisition and with one this large, it will have to be approved by several parties. We will update this post when AT&T and Time Warner confirm the deal.