Actionable news
All posts from Actionable news
Actionable news in TMUS: T-MOBILE US Inc,

AT&T reaches deal to buy Time Warner for more than $80 billion

Jeff Bewkes

AT&T has reached a deal to buy Time Warner for between $105 and $110 per share, The Wall Street Journal is reporting.

That puts the deal's value at more than $80 billion.

A formal announcement from the two companies is expected as soon as Saturday night.

The deal will allow AT&T to expand into the television business, picking up channels like HBO and CNN.

Time Warner shares surged about 2.76% during after-hours trading.

Former Fox executive Peter Chernin will likely oversee Time Warner's operations, according to The Hollywood Reporter. Chernin declined a...