AT&T, Time Warner Poised To Announce Merger: Create New Media Behemoth

More than 30 years after federal regulators broke up AT&T’s monopoly of the nation’s communications network, AT&T is expanding its footprint once again, acquiring Time Warner for $80 billion, according to various reports citing unnamed sources.

The official announcement, which was expected to come as soon as tonight, would be the most significant consolidation of the telecommunications marketplace since Comcast’s acquisition of NBC Universal, creating a second media behemoth combining AT&T’s millions of wireless and wired communications subscribers with Time Warner’s deep programming assets, including the Turner Broadcasting networks, HBO and the Warner Bros. movie and TV programming studio.

The deal, which is expected to face rigorous regulatory scrutiny, is not expected to close until late 2017.

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