AT&T Will Buy Time Warner For $80 Billion+
October 22, 2016 at 12:04 PM (PT)
The deal ALL ACCESS tipped you to yesterday (NET NEWS 10/21) is now a reality as the WALL STREET JOURNAL and many other sources are reporting that AT&T has reached a deal in principal to buy TIME WARNER for more that $80 billion -- which translates to between $105 and $110 a share in a deal that's reported to be half cash, half stock.
This 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 $7.2 billion in cash on hand) and the usual antitrust concerns that come with major transactions.