AT&T to Buy Time Warner for $85.4 Billion
AT&T has agreed to purchase Time Warner for $85.4 billion in a stock-and-cash deal that will merge AT&T's delivery networks with Time Warner's vast catalog of content. AT&T believes the combined companies will be able to save $1 billion per year once fully merged. The company says the acquisition will diversify its revenue mix thanks to the lower-cost, less-regulated content business from Time Warner. This will balance out the high cap-ex model currently run by AT&T and its wired and wireless networks, and DirecTV satellite service, which are all heavily regulated. The merger has been approved unanimously by both boards, but will require regulatory approval from the U.S. Department of Justice and the FCC. The transaction is expected to close before year-end 2017. The combined entity will compete with Verizon-AOL.
DOJ Sues to Halt AT&T/Time Warner Merger
The U.S. Department of Justice has sued to stop the proposed merger between AT&T and Time Warner.
FCC and Justice Dept. Likely to Approve AT&T-DirecTV Deal
The FCC and Department of Justice are wrapping up their review of AT&T's proposed $49 billion acquisition of DirecTV and don't have any real concerns, according to people familiar with the matter. The agencies may still impose conditions on the deal, but aren't likely to block it, says the Wall Street Journal.
Avago to Buy Broadcom for $37 Billion
Avago Technologies today said it plans to acquire Broadcom for $37 billion. Avago is offering Broadcom's shareholders $17 billion in cash and $20 billion in Avago stock.
T-Mobile and Dish Discussing Possible Merger
T-Mobile and Dish Networks are negotiating a potential merger between the two companies, reports the Wall Street Journal. The companies have agreed to some of the broad strokes of combining, but not the details.