AT&T set to buy Time Warner for $85.4 billion

NEW YORK (KRQE) – AT&T is set to buy Time Warner, the owner of the Warner Bros. Movie Studio as well as HBO and CNN, for $85.4 billion in a deal that could shake up the media landscape.
It is the latest big media acquisition by a major cable or phone company. Deals like Comcast’s 2011 purchase of NBC Universal, all aimed at shoring up businesses upended by the internet.
Regulators would have to sign off on the acquisition.
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