AT&T Rumored To Merge With Time Warner
AT&T is looking to buy Time Warner. According to Bloomberg, AT&T hopes to close the deal by Monday to shut out other potential buyers.
The Wall Street Journal reports. a merger between the two companies would be "the most ambitious marriage of content and distribution in the media and telecom industries since Comcast's 20-11 purchase of NBCUniversal."
According to the Journal, the deal would create a huge media corporation to compete with Comcast/NBCUniversal and would likely receive intense regulation.
Bloomberg says Time Warner's shares surged in trading Friday, increasing by as much as 14 percent to $94.44, giving the company a market value of more than $70 billion. AT&T on the other hand, fell by as much as 4.4 percent.