AT&T will acquire Time Warner for $85.4B in content play

AT&T said it will acquire Time Warner for US$85.4 billion, reflecting a continuing trend for the consolidation of communications and media companies.The deal aims to combine content from Time Warner, which has a film studio and a vast library of entertainment, with AT&T’s distribution network of mobile services, broadband and TV in the U.S., Mexico and Latin America, AT&T said late Saturday.Under the part cash, part stock deal, Time Warner shareholders will receive $107.50 per