AT&T made a deal to buy Time Warner for $85 billion, which would make it the nation’s largest entertainment company and a major force in Hollywood, a person familiar with the deal said Saturday.
The agreement, which was sealed at breakneck speed and expected to be announced late Saturday, accelerates the wave of consolidation in the telecommunications and media industries.
AT&T agreed to pay about $107 a share to Time Warner investors in the cash-and-stock deal, the source said.
By adding Time Warner’s expansive portfolio, which includes Hollywood’s largest film and television studio, War.
Full Content: The Wall Street Journal