AT&T Buying HBO And CNN Owner Time Warner For $85.4 billion

NEW YORK (AP) – AT&T is buying Time Warner, 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.
The merger combines a telecom giant that owns a leading cellphone business, DirecTV and internet service with the company behind some of the world’s most popular entertainment. It’s the latest tie-up between the owners of digital distribution networks – think cable and phone companies – an