AT&T announced Saturday that it is working on a deal to acquire Time Warner. The Time Warner acquisition price is valued at $85.4 billion.
The deal will allow AT&T to deliver video to millions of wireless, U-verse and broadband cable subscribers, as well as DirecTV satellite subscribers.
The deal is expected to be completed by the end of 2017, as the companies await approval from the regulatory committee.
In short, the deal will give AT&T control of Time Warner content companies, including: CNN, HBO, DC Comics, Warner Bros, Cartoon Network, and many others.
AT&T said the combined company would seek to become the first U.S. mobile carrier to compete nationally with cable companies with mobile broadband and video packages.
“This is a perfect match of two companies with complementary strengths that can bring a new approach to how the media and communications industry works for customers, content creators, distributors and advertisers,” said Randall Stephenson, chairman and CEO of AT&T.
“Premium content always wins. We’ve seen it on the big screen, on the TV screen, and now we’re going to see it on the mobile screen. We’re going to have the best premium content in the world and the networks to deliver it to every screen.”
The losers from this story will probably be the pirates, if you consider that the content provider will also be the connection provider..
