AT&T set to announce $85 billion Time Warner purchase

The deal, which has been agreed on most terms, would be one of the largest in recent years in the sector as telecommunications companies look to combine content and distribution to capture customers replacing traditional pay-TV packages with more streamlined offerings and online delivery. AT&T will pay $110 per Time Warner share in cash and stock, worth about $85 billion overall, sources told Reuters. AT&T, whose main wireless phone and broadband service business is showing signs of slow