After two days of “people close to situation” leaking information about a possible merger between AT&T and Time Warner Inc., the two companies have confirmed the deal which is valued at around $85 billion.
The merger combines the vast Time Warner media empire — which includes cable networks (HBO, TBS, TNT, CNN, HLN, among others), movies and home video (Warner Bros., New Line), comic books (DC, Vertigo), and other ventures — with the nation’s largest satellite provider, its second-largest wireless provider, and the operator of a sprawling landline telecom network.
As we’ve mentioned before — because it can get confusing — Time Warner Inc. is not Time Warner Cable. Time Warner spun TWC off into its own company in 2009 and was recently acquired by Charter. Additionally, Time Warner Inc. is not Time Inc., the publishing mega-house (People, Sports Illustrated, Fortune, among others); that division of the company was spun off in 2014.
The confirmation of the merger jives with earlier reports that said Time Warner shareholders would get around $110/share in the deal. The final number, as announced by AT&T, is $107.50/share.
AT&T says the boards of both companies gave unanimous approval to the deal.
More to come…
by Chris Morran via Consumerist
No comments:
Post a Comment