24 October 2016 Current Affairs: The American telecommunications giant AT&T Inc has agreed to buy Time Warner, the home of HBO and CNN, for about $85.4 billion in a 50% cash and 50% stock deal, forming one of the largest telecommunications and media empire in the world.
The combined entity will be worth around $300 billion, making it among the top ten most valued public company in the world.
AT&T Inc. is an American multinational telecommunications conglomerate, headquartered at Whitacre Tower in downtown Dallas, Texas. AT&T is the second largest provider of mobile telephone services and the largest provider of fixed telephone services in the United States, and also provides broadband subscription television services through DirecTV. AT&T is the third-largest company in Texas (the largest non-oil company, behind only ExxonMobil and ConocoPhillips, and also the largest Dallas company).