AT&T to pay $85 billion for Time Warner, create telecom-media giant

By Greg Roumeliotis and Jessica Toonkel NEW YORK (Reuters) - AT&T Inc said on Saturday it agreed to buy Time Warner Inc for $85.4 billion, the boldest move yet by a telecommunications company to acquire content to stream over its 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. The tie-up will likely fac