Media Merger: AT&T agrees to buy Time Warner for $85bn. At this stage the deal needs approval from regulatory authorities.
The United States Department of Justice has filed an antitrust lawsuit to prevent AT&T and Time Warner from completing an $85 billion merger. Some fear the move may be politically motivated.
Telecommunications giant AT&T has agreed to buy media company Time Warner in a deal worth $85.4 billion. The deal, the world's largest this year, could shake up the media landscape but still needs regulatory approval.
The proposed merger, celebrated by the two companies' bosses as a "perfect match," will likely face regulatory hurdles and political opposition no matter who wins the US presidential election.
US telecommunications giant AT&T is reported to be in advanced talks to acquire Time Warner, the owner of CNN and HBO. It would be the biggest deal in the world this year.
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