AT&T announces it will acquire Time Warner for $85 billion

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Zach Epstein

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Following numerous reports of an imminent deal, AT&T on Saturday night announced that it plans to acquire media giant Time Warner for $107.50 per share, or $85 billion. The deal, which represents a healthy premium over Time Warner's $89.48 closing price on Friday, includes cash and stock and will be financed in part by a $40 billion loan. Should the deal be approved by regulators, AT&T will take control of HBO, CNN, TNT, Warner Bros. studio and the rest of Time Warner's assets.

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