AT&T (nee SBC, nee Southwestern Bell) dropped a story Friday evening while some of the East Coast was disrupted by the DDOS attack that they had intentions to acquire Time Warner, the owner of CNN (the Cheap News Network), HBO, Warner Pictures, etc. for about $85 billion dollars.
Of course, this is subject to approval by the Federal Communications Commission, and similar to the NBCUniversal/Comcast acquisition from GE in 2010; expect concessions and terms of sale to also follow.
This deal however, does not include Time Warner Cable (historically branded for it’s Road Runner triple play services) which was spun off several years ago, but kept the name and the “sight and sound” logo.