Oct 22, 2016 6:07 PM

AT&T buying HBO and CNN owner Time Warner for $85.4 billion

The Associated Press

NEW YORK (AP) — AT&T is buying Time Warner, owner of the Warner Bros. movie studio as well as HBO and CNN, for $85.4 billion in a deal that could shake up the media landscape.

The merger combines a telecom giant that owns a leading cellphone business, DirecTV and internet service with the company behind some of the world's most popular entertainment. It's the latest tie-up between the owners of digital distribution networks — think cable and phone companies — and entertainment and news providers, one aimed at shoring up businesses upended by the internet.

The deal would make Time Warner the target of the two largest media-company acquisitions on record, according to Dealogic. The highest was AOL's disastrous $94 billion acquisition of Time Warner at the end of the dot-com boom.

--  Dealing with the Disease of Addiction? Click here for help --

»Comments

More from NH1.com

NH1 News Replay
   

NH1 on Twitter

NH1 SkyView Cameras

NH1 on Facebook

Check out NH1 News Rail Polls on LockerDome on LockerDome