AT&T the telecom gaint has unveiled a deal for Time Warner company that will transform the telecom giant into a media entertainment powerhouse positioned for a sector facing major technological changes.
Merger, to transform AT&T, which doesn’t own content, into a media entertainment powerhouse.
The deal approved on October 22 is valued at $108.7bn including debt, and gives a value of $84.5bn to Time Warner, the major name in the sector which includes an array of TV assets such as ‘HBO’ and ‘CNN’, and the Warner Bros studios in Hollywood
“the world’s best premium content with the networks to deliver it to every screen, however customers want it”
Randall Stephenson, AT&T chairman and chief executive, said: “This is 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.”