AT&T strikes $108.7 bn deal to buy Time Warner
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NEW YORK - AT&T announced Saturday a deal worth $108.7 billion to buy Time Warner and create a media-tech powerhouse with control over a vast array of media and entertainment assets and the means to deliver them.
The deal values Time Warner -- with HBO, CNN and Warner Bros studios -- at more than $85 billion and would form "a perfect match of two companies with complementary strengths who can bring a fresh approach to how the media and communications industry works for customers, content creators, distributors and advertisers," said AT&T chairman and chief executive Randall Stephenson.
