A PYMNTS Company

US: AT&T & Time Warner discuss possible merger- Bloomberg

By  |  October 20, 2016

Senior executives at AT&T Inc. and Time Warner Inc. have met in recent weeks to discuss various business strategies including a possible merger, according to people familiar with the matter.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Time Warner rose at much as 9.5 percent in New York to $86.75, valuing the company at about $67.5 billion. AT&T fell 2 percent.

    The talks, which at this stage are informal, have focused on building relations between the companies rather than establishing the terms of a specific transaction, the people said, asking not to be identified as the deliberations are private. Neither side has yet hired a financial adviser, the people said.

    Time Warner Chairman and Chief Executive Officer Jeff Bewkes is a willing seller, said one of the people, if he gets an offer he thinks is fair. Bewkes and his board rejected an $85-a-share approach in 2014 from Rupert Murdoch’s 21st Century Fox Inc., which valued Time Warner at more than $75 billion.

    Full Content: Bloomberg

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.