U.S telecoms firm AT&T wants to buy Time Warner-the company behind some of the most iconic heroes from Batman to James Bond. But will it actually happen?
CCTV America’s Owen Fairclough reports.
AT&T prepares for battle in Time Warner takeover
U.S telecoms firm AT&T wants to buy Time Warner-the company behind some of the most iconic heroes from Batman to James Bond. But will it actually happen? CCTV America’s Owen Fairclough reports.A question is HBO character could pose to the network’s parent company, Time Warner. In its bid to buy telecoms provider AT&T, Time Warner may be squaring up for a showdown it can’t win.
AT&T wants to buy Time Warner which is owner of the iconic Hollywood Studio and 24-hour cable news channel CNN for just over $85 billion dollars. It would be the biggest deal of the year-if it happens.
On the face of it, there’s a simple logic to this takeover. More and more of us are watching TV and movies on our phones and tablets. AT&T provides the means to stream that content, so why not buy the company that makes it?
But investors aren’t confident the deal will go through-shares in both companies took a tumble on Monday.
They fear regulators will scuttle the deal over monopoly concerns.
AT&T insists it’s good for customers and competition. U.S. regulators have an uneven track record in approving media industry mega-deals.
In 2011, they permitted cable TV and internet giant Comcast to buy NBC Universal.
Comcast withdrew a subsequent bid to acquire rival Time Warner Cable after the U.S. Department of Justice threatened to file an antitrust lawsuit to block it. AT&T and Time Warner could soon be facing the ultimate adversary. AT&T hopes to wrap this up by the end of next year.
Eric Schiffer on the AT&T and Time Warner merger
For more on AT&T and Time Warner merger, CCTV America’s Rachelle Akuffo spoke to Eric Schiffer, tech Entrepreneur and CEO of The Patriarch Organization.
