AT&T Is Buying HBO, CNN, And The Rest Of Time Warner For More Than $80 Billion

Posted: Oct 23 2016, 12:20pm CDT | by , Updated: Oct 23 2016, 1:18pm CDT , in Technology News

AT&T Is Buying HBO, CNN, And The Rest Of Time Warner For More Than $80 Billion

Apple take notice!!

The Wall street Journal has reported that AT&T has reached a deal to get hold of Time Warner in $80 billion. This news first came out in the open on Friday when Reuters and Bloomberg predicted that the deal could top $85 billion. If this deal is successful, AT&T will have major control over major entertainment and news brands.

These include HBO, Warner Bros, Entertainment and the well known CNN. Time Warner holds DC Comics so this wireless company will also own Batman. AT&T previously acquired DirecTV for $48.5 billion last year.

Similar mergers have been seen such as the Comcast/NBC Universal Deal which was completed in 2011 and also when Verizon purchased AOL and Yahoo last year. Just as it is evident with media consolidations this merger will have significant implications for both the internet and entertainment industry.

ISPs now find themselves in direct competition with Netflix. Although one substantial complaint of the ISP market happens to be lack of competition and due to the vertical integration ISPs compete with different companies and that has actually made customers uncomfortable. As per the Journal the deal will be announced tonight.

Source: AT&T

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<a href="/latest_stories/all/all/32" rel="author">Ahmed Humayun</a>
Ahmed Humayun is a technology journalist bringing you the hottest tech stories of the day.




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