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Time Warner (TWX) Stock Up in After-Hours Trading on AT&T Deal Talk

NEW YORK (TheStreet) -- Shares of Time Warner (TWX) were gaining in after-hours trading on Thursday as the media company recently met with AT&T (T) to explore various business strategies, including the possibility of a merger, Bloomberg reports, citing sources.

The informal talks have focused on developing relations between the two companies rather than reaching an agreement on a possible transaction, sources said, according to Bloomberg.

Time Warner's CEO Jeff Bewkes has said he's open to the idea of exploring a sale.

AT&T CEO Randall Stephenson is...