NEW YORK—Grab some popcorn — AT&T wants to take you to the movies. At least that’s the word on Wall St. after several reports citing unnamed sources said the giant phone company is in advanced talks to buy Time Warner, owner of the Warner Bros. movie studio, as well as HBO and CNN. AT&T is said to be offering $80 billion or more, a massive deal that would shake up the media landscape. The Wall Street Journal reported Saturday that the boards of AT&T and Time Warner were meeting to approve the deal. Shares of AT&T, as is typical of acquirers in large deals, fell on the reports, ending Friday down 3 per cent.

Source: thestar October 22, 2016 20:12 UTC