After days of speculation, AT&T announced it plans to purchase Time Warner and all assets in a deal valued at a staggering $85.4 million. This could have major implications for the future of streaming as AT&T will own both the ISP and media sides of the deal.
The deal is a mixture of stock and cash and will see AT&T adding major media properties such as HBO, Warner Bros. studio, TNT, TBS, CNN, Cartoon Network, and the broadcast rights to the National Basketball Association, March Madness, Major League Baseball, and even digital properties like Hulu, Bleacher Report, CNN.com, and Fandango.
“This is a perfect match of two companies with complementary strengths who can bring a fresh approach to how the media and communications industry works for customers, content creators, distributors and advertisers,” said Randall Stephenson, AT&T chairman and CEO.
We will have more coverage as the story opens up.