Time Warner is skyrocketing after reports that AT&T is closing in on a takeover (TWX, T, AAPL, GOOGL)

Time Warner shares spiked more than 13% to a 15-month high after The Wall Street Journal reported that the company is in "advanced talks" to be acquired by AT&T.
A deal could be announced this weekend, according to the report.
Bloomberg reported Thursday that the companies were in talks. The discussions intensified after the talks went public and amid AT&T's concern that other companies such as Google or Apple could make a bid, Bloomberg reported on Friday.
A deal would bring major netwo