Time Warner (TWX) to be acquired by AT&T(T) for $86 billion or $110 per share

AT&T Inc. is near an agreement to acquire Time Warner Inc. for about $86 billion, people with knowledge of the matter said, a deal that would create a media behemoth that offers TV, wireless and the programming that goes with it.

 

CNBC 10/24/16

The terms value Time Warner at about $110 a share and are structured as a 50-50 cash and stock split, said the people, who asked not to be identified because the information is private. It would be the biggest acquisition of the year, surpassing Bayer AG’s $66 billion takeover of U.S. seed giant Monsanto Co., announced in May.

Buying Time Warner would give AT&T -- already a top U.S. supplier of pay-TV, mobile phone and home internet services -- premium entertainment programming to offer its millions of subscribers, from HBO to the NBA to the Cartoon Network. CEO Randall Stephenson is transforming the Dallas-based phone company into a media and entertainment giant, and now has one of Hollywood’s top film and TV producers in his crosshairs.