(MENAFN- AFP) AT&T announced a deal worth $108.7 billion to buy Time Warner and create a media-tech powerhouse with control over a vast array of media and entertainment assets and the means to deliver them.
The deal values Time Warner -- with HBO, CNN and Warner Bros studios -- at more than $85 billion and would form "a perfect match of two companies with complementary strengths who can bring a fresh approach to how the media and communications industry works for customers, content creators, distributors and advertisers," said AT&T chairman and chief executive Randall Stephenson.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.