AT&T steps into media sector, agrees to buy Time Warner Inc

Q.  AT&T is set to foray into which field?
- Published on 25 Oct 16

a. Software
b. Media
c. Food and Beverages
d. Manufacturing

ANSWER: Media
 
AT&T steps into media sector, agrees to buy Time Warner IncAT&T, a telecom major has decided on 22nd Oct 2016 to purchase Time Warner Inc for USD 85.4 billion in a deal that will transform the phone company into a media giant
  • The telecom company has agreed to pay USD 107.50 dollars per share, evenly split between stock and cash
  • This deal is expected to close by 2017
  • The new company will be headed by the telecom company’s CEO Randall Stephenson
  • AT&T will tap USD 40 billion in bridge loans with USD 25 billion from JP Morgan and USD 15 billion from BoA
  • AT&T will rely on its entertainment business for 40 percent of the revenue after this
  • The decision will pair the wireless and pay television subscribers of the telecom major with Time Warner’s media lineup including networks like CNN, TNT and HBO channels

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