AT&T agrees to buy Time Warner for $85 billion

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NEW YORK ATT Inc (T.N) pronounced on Saturday it concluded to buy Time Warner Inc (TWX.N) for $85.4 billion, a boldest pierce nonetheless by a telecommunications association to acquire calm to tide over a high-speed network to attract a flourishing series of online viewers.

The biggest understanding in a universe this year will, if authorized by regulators, give ATT control of wire TV channels HBO and CNN, film studio Warner Bros and other desired media assets. It will approaching face heated inspection by U.S. antitrust regulators disturbed that ATT competence try to extent placement of Time Warner material.

ATT will compensate $107.50 per Time Warner share, in a multiple of money and stock, value $85.4 billion overall, according to a statement.

ATT pronounced it approaching to tighten a understanding by a finish of 2017.

(Additional stating by David Shepardson, Liana Baker and Malathi Nayak; Editing by Bill Rigby and David Gregorio)

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