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Consolidation of power continues to be collected into the hands of a select few:
The Wall Street Journal reports that AT&T has reached a deal to acquire Time Warner for more than $80 billion. News of the merger first surfaced on Friday, when Reuters and Bloomberg reported that the deal could top $85 billion. If successful, AT&T will gain control of huge entertainment and news brands including HBO, Warner Bros. Entertainment, and CNN, and resembles efforts by competing ISPs in recent years to create enormous media conglomerates.
Since one of Time Warner's holdings is DC Comics, the wireless company will also be acquiring Batman.
AT&T's deal with Time Warner follows another major acquisition last year, when it acquired DirecTV for $48.5 billion. Other similar mergers include the Comcast / NBC Universal deal, which completed in 2011, and Verizon's purchase of AOL and Yahoo over the past year.
Source: AT&T to buy HBO, CNN, and the rest of Time Warner for more than $80 billion
Since one of Time Warner's holdings is DC Comics, the wireless company will also be acquiring Batman.
AT&T's deal with Time Warner follows another major acquisition last year, when it acquired DirecTV for $48.5 billion. Other similar mergers include the Comcast / NBC Universal deal, which completed in 2011, and Verizon's purchase of AOL and Yahoo over the past year.
Source: AT&T to buy HBO, CNN, and the rest of Time Warner for more than $80 billion