DALLAS, Oct. 21 (UPI) — AT&T Inc. is negotiating to acquire Time Warner Inc., people familiar with the talks said.
Reports differ regarding how close to completion the talks have developed. Thougha deal could occur as early as this weekend, it could still fall through or be delayed, the Wall Street Journal reported Friday.
An acquisition would likely involve a cash-and-stock transaction, the newspaper said, although those familiar with the negotiations say neither side has hired a financial adviser thus far.
A deal, if one is made, would bring together AT&T’s capabilities in wireless, broadband and satellite television data transmission with Time Warner’s supply of programming, which includes the TNT, TBS, CNN and HBO channels, as well as the Warner Brothers film and television studios.
Time Warner was valued at more than $75 billion when 21st Century Fox Inc. unsuccessfully attempted to acquire it in 2014 for $85 per share. Time Warner shares have increased 23 percent in value since the start of 2016.
AT&T stock has gained 12 percent this year, making it worth $238 billion. The company has moved, since the 1982 breakup of the Bell System in 1982, from regional telephone company Southwestern Bell to a power in national telecommunications. Last year it purchased satellite television provider DirecTV for $48.5 billion.
