It's Official: AT&T Snaps Up Time Warner For $85.4 Billion

Huge

As ALL ACCESS tipped you FRIDAY (NET NEWS 10/21), and then reported as official SATURDAY (NET NEWS 10/22), AT&T has reached a deal in principal to buy TIME WARNER for more that $85.4 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.

THE NEW YORK TIMES reports, "The merger is met with skepticism by industry analysts and outrage by consumer groups, who complain that it would thwart competition, create unfair pricing and incite more media consolidation."

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