AT&T Announces Monster Acquisition Of Time Warner

In a mega stock-and-cash deal, AT&T in October said it would acquire media powerhouse Time Warner for $85.4 billion. The deal will give Dallas-based AT&T access to content assets such as HBO, CNN and Warner Bros. Studios, at a time in which carriers are seeing an opportunity to branch out from their core connectivity offerings and deliver premium content.

The deal is still subject to regulatory approval, but if passed, the AT&T-Time Warner merger would create the nation’s largest entertainment company just ahead of cable giant Comcast, which acquired NBCUniversal in 2009.