AT&T To Acquire Time Warner

AT&T is learned to be acquiring Time Warner and a deal between $105 and $110 a share, or more than $80 billion, could take place by this weekend.

After the deal is struck the Time Warner’s entertainment empire including cable networks such as HBO channel, CNN, TBS, TNT, and Warner Bros. film and TV studio will become the property of AT&T wireless.

However, it is now also possible other bidders may step in including Apple, which approached Time Warner few months ago.

Last year AT&T acquired satellite TV provider DirectTV for $48.5 billion and buying Time Warner would make it a media powerhouse.

In 2014 the wireless company went into a joint venture with Chernin Group and rolled out video streaming services.

With the news the shares of Time Warner rose by about 8 percent in regular trading and later again by 3.4 percent to $92.50. AT&T closed with a fall of 3 percent at $37.49.

In 2014 Time Warner rejected an $80 billion offer from Twenty-First Century Fox Inc.

Director of research at Albert Fried & Company, Rich Tullo, said the 5G is coming and this could be an epic game-changer in the wireless industry with added power to mobile providers to disrupt traditional pay-TV services.