Advertisement
Singapore markets close in 1 hour 30 minutes

  • Straits Times Index

    3,173.56
    -14.10 (-0.44%)
     

  • Nikkei

    37,068.35
    -1,011.35 (-2.66%)
     

  • Hang Seng

    16,228.67
    -157.20 (-0.96%)
     

  • FTSE 100

    7,847.37
    -29.68 (-0.38%)
     

  • Bitcoin USD

    64,427.48
    +3,167.24 (+5.17%)
     

  • CMC Crypto 200

    1,333.57
    +20.94 (+1.59%)
     

  • S&P 500

    5,011.12
    -11.09 (-0.22%)
     

  • Dow

    37,775.38
    +22.07 (+0.06%)
     

  • Nasdaq

    15,601.50
    -81.87 (-0.52%)
     

  • Gold

    2,404.30
    +6.30 (+0.26%)
     

  • Crude Oil

    83.70
    +0.97 (+1.17%)
     

  • 10-Yr Bond

    4.6470
    0.0000 (0.00%)
     

  • FTSE Bursa Malaysia

    1,549.80
    +5.04 (+0.33%)
     

  • Jakarta Composite Index

    7,086.48
    -80.33 (-1.12%)
     

  • PSE Index

    6,443.00
    -80.19 (-1.23%)
     

AT&T agrees to buy Time Warner for $85 billion

Reuters

By Greg Roumeliotis and Jessica Toonkel

NEW YORK (Reuters) - AT&T Inc (T.N) said on Saturday it agreed to buy Time Warner Inc (TWX.N) for $85.4 billion, the boldest move yet by a telecommunications company to acquire content to stream over its high-speed network to attract a growing number of online viewers.

The biggest deal in the world this year will, if approved by regulators, give AT&T control of cable TV channels HBO and CNN, film studio Warner Bros and other coveted media assets. It will likely face intense scrutiny by U.S. antitrust regulators worried that AT&T might try to limit distribution of Time Warner material.

AT&T will pay $107.50 per Time Warner share, in a combination of cash and stock, worth $85.4 billion overall, according to a statement.

AT&T said it expected to close the deal by the end of 2017.

(Additional reporting by David Shepardson, Liana Baker and Malathi Nayak; Editing by Bill Rigby and David Gregorio)