The US teledmmunications giant ATaT agreed on October 22, 2016 to buy Time Warner, the home of HBO and CNN, for about $85.4 billion, creating a new colossus capable of both producing content, and distributing it to millions with wireless phones, broadband subscriptions and satellite TV connections.
The proposed deal is likely to spur yet more consolidation among media companies, which have already looked to partners to get bigger. This year, Lionsgate struck a deal to buy the pay-TV channel Starz for $4.4 billion. And the Redstone family, which controls both CBS and Viacom, has urged the corporate siblings, which split 10 years ago, to consider reuniting.
The proposed deal is likely to spur yet more consolidation among media companies, which have already looked to partners to get bigger. This year, Lionsgate struck a deal to buy the pay-TV channel Starz for $4.4 billion. And the Redstone family, which controls both CBS and Viacom, has urged the corporate siblings, which split 10 years ago, to consider reuniting.
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