AT&T; Reaches Deal to Buy Time Warner for $85.4 Billion
Wireless carrier agrees to pay $107.50 a share in half-cash, half-stock deal
AT&T has reached an agreement to acquire Time Warner for $86 billion, according to people familiar with the deal. Photo: Richard b. Levine/Newscom/Zuma Press
AT&T Inc. has reached an agreement to buy Time Warner Inc. for $85.4 billion in a deal that would transform the phone company into a media giant.
The wireless carrier agreed to pay $107.50 a share. The deal is half cash and half stock.
AT&T Chief Executive Randall Stephenson would head the new company. The companies said Time...