AT&T completes its acquisition of Time Warner

AT&T has sealed the deal to buy Time Warner  in a major piece of media and technology consolidation.

The deal — which is $85.4 billion and a total of $108 billion with debt — was first announced in October 2016 and, having passed a court approval earlier this weekit was completed on Thursday.

That’s a long cycle to complete a transaction, but this is a complicated one that sees AT&T take control of Time Warner, as well as HBO,  Warner Brother’s film studio and its Turner channels. That’s likely to create a complicated web of conflicts, as both media distribution and content creation come together under the same parent.

“The content and creative talent at Warner Bros., HBO and Turner are first-rate. Combine all that with AT&T’s strengths in direct-to-consumer distribution, and we offer customers a differentiated, high-quality, mobile-first entertainment experience,” Randall Stephenson, chairman and CEO of AT&T, said in a statement. “We’re going to bring a fresh approach to how the media and entertainment industry works for consumers, content creators, distributors and advertisers.”

https://techcrunch.com/2018/06/15/att-completes-its-acquisition-of-time-warner/