Reports: AT&T Close To Buying Time Warner
October 21, 2016 at 3:05 PM (PT)
Multiple media sources including CNBC are reporting that AT&T is nearing a deal to acquire TIME WARNER. REUTERS claims that most of the terms of the deal have already been agreed upon. Terms of the deal range from NEW YORK TIMES' report of $90 a share to REUTERS' estimate of $110 a share. Either way, it would be the largest such deal in the U.S. this year.
This potential deal follows AT&T's $48.5 billion acquisition of DIRECTV, which created the country’s largest television distributor with about 26 million subscribers. Getting it done won't be easy, what with AT&T's current debt load of $130 billion (with only $7 billion in cash on hand) and the usual antitrust concerns that come with major transactions.