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AT&T announces it will acquire Time Warner for $85 billion.

AT&T has announced that it’s acquiring Time Warner for the equivalent of $85.4 billion in cash and stock. The move gives one of the US’ largest telecoms control over some of the biggest names in movies and TV, including HBO, Turner and Warner Bros. That includes rights to broadcast MLB, NBA and NCAA March Madness games.

AT&T would be willing to take the risk, though. The firm likely doesn’t want to take the chance of being left behind by the likes of Comcast, and owning Time Warner would give it an edge over other large phone carriers that have to license premium video, if they offer a video service at all.

 

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