Earlier this week AT&T Inc. and Time Warner Inc. announced that they have entered into a definitive agreement under which AT&T will acquire Time Warner in a stock-and-cash transaction valued at US$107.50 per share. The agreement has been approved unanimously by the boards of directors of both companies.
The $80 billion deal combines Time Warner’s vast library of content and ability to create new premium content that connects with audiences around the world, with AT&T’s extensive customer relationships, world’s largest pay TV subscriber base and leading scale in TV, mobile and broadband distribution.
Time Warner is a global leader in media and entertainment with a great portfolio of content creation and aggregation, plus iconic brands across video programming and TV/film production. Each of Time Warner’s three divisions is an industry leader: HBO, which consists of domestic premium pay television and streaming services (HBO Now, HBO Go), as well as international premium & basic pay television and streaming services; Warner Bros. Entertainment, which consists of television, feature film, home video and videogame production and distribution. Warner Bros. film franchises include Harry Potter & DC Comics, and its produced TV series include Big Bang Theory and Gotham; Turner consists of U.S. and international basic cable networks, including TNT, TBS, CNN and Cartoon Network/Adult Swim. Also, Turner has the rights to the NBA, March Madness and MLB. Time Warner also has invested in OTT and digital media properties such as Hulu, Bleacher Report, CNN.com and Fandango.
This isn’t the first time Superman has been connected with AT&T. Back in 1987 AT&T used Clark Kent and Lois Lane in a Super Bowl TV spot promoting the AT&T Card, with Christopher Reeve and Margot Kidder voicing the characters!