The US telecoms giant AT&T has reached an agreement to purchase entertainment group Time Warner for nearly $86bn. The deal was announced on AT&T’s press site, revealing that the company will pay $107.50 for each Time Warner share, in a combination of cash and stock.
The deal, which is one of the biggest media mergers in history, will be subject to a review by government regulators, and could take more than a year to complete. Through the acquisition, AT&T would acquire HBO, Turner Broadcasting System and Warner Bros, which would give them ownership of television channels, publications and websites.
