AT&T near bid for Time Warner: report

October 21, 2016
AT&T has pursued an aggressive expansion, paying almost $50 billion to buy satellite television provider DirectTV in 2015

US telecom giant AT&T is in "advanced talks" to acquire entertainment group Time Warner in a move to add in-house content to distribution services, The Wall Street Journal reported Friday.

AT&T, the second-largest US wireless carrier and third-largest cable TV provider, could seal the deal "as early as this weekend," the Journal said, citing people familiar with the matter.

AT&T is a top power in supplying cable, phone and internet services across the United States, while Time Warner controls a valuable stable of entertainment content suppliers, including Warner Bros. film and TV studios, the HBO television production group, cable news giant CNN, and the TNT and TBS cable channels.

No value was put on a possible deal. AT&T had $147 billion in revenues in 2015 while Time Warner reported $28 billion.

"The talks toward what likely would be a cash-and-stock deal have come together quickly, are fluid, and still could fall through, according the people familiar with the matter. An agreement also could be delayed, they said," the Journal reported.

AT&T has pursued an aggressive expansion, paying almost $50 billion to buy satellite television provider DirectTV in 2015.

Explore further: Hulu explores selling stake to Time Warner: report

Related Stories

Charter to bid below $135 a share for TW Cable

December 13, 2013

Cable TV operator Charter Communications Inc. is preparing to send a letter offering to buy the much larger Time Warner Cable Inc. for below $135 per share as early as Monday.

'AT&T seeks to buy DirecTV'

May 1, 2014

US telecoms giant AT&T has offered to buy satellite TV firm DirecTV, in the latest move for consolidation in the television and industry, the Wall Street Journal said Thursday.

Recommended for you

Coffee-based colloids for direct solar absorption

March 22, 2019

Solar energy is one of the most promising resources to help reduce fossil fuel consumption and mitigate greenhouse gas emissions to power a sustainable future. Devices presently in use to convert solar energy into thermal ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.