Following numerous reports of an imminent deal, AT&T on Saturday night announced that it plans to acquire media giant Time Warner for $107.50 per share, or $85 billion. The deal, which represents a healthy premium over Time Warner’s $89.48 closing price on Friday, includes cash and stock and will be financed in part by a $40 billion loan. Should the deal be approved by regulators, AT&T will take control of HBO, CNN, TNT, Warner Bros. studio and the rest of Time Warner’s assets. More →
Following rumors earlier this week of an imminent deal, The Wall Street Journal is now reporting the AT&T has reached an agreement to acquire Time Warner. AT&T will reportedly pay between $105 and $110 per share for Time Warner, making the deal worth more than $80 billion. Time Warner shares closed at $89.48 on Friday after spiking on rumors that a merger deal with AT&T could be announced as soon as this weekend. According the WSJ, AT&T and Time Warner’s boards are meeting this afternoon and the final merger proposal could be announced later on Saturday. More →
Yesterday, we heard rumors that AT&T is thinking about an acquisition of Time Warner, the cable company that owns HBO and CNN, among other channels. A WSJ report this morning upgraded the urgency, saying that a deal could happen as soon as this weekend.
But according to other WSJ sources, Apple is also interested in Time Warner, and is “monitoring the situation.”
Some question Apple’s future in all sorts of “doom” scenarios, but the iPhone maker is hardly doomed. Its cash pile alone could help it move in any number of new directions, and a new report proves exactly that. Apparently, Apple considered buying Time Warner as it looked to make a major push into the media business. More →
There’s a whole lot of money to be made in streaming content to computers and mobile devices, and big media companies have no intention of letting Netflix and Amazon dominate the market without a fight. Companies from HBO and Showtime to Hulu and Verizon have all launched subscription streaming services in an effort to chase cord cutters and “cord nevers” who don’t pay for cable or satellite television service, and the streaming market is expected to continue to grow in the coming years.
Now, Time Warner has tossed its hat into the ring in announcing a new streaming service of its own. While the media giant’s plan certainly seems interesting, its new service isn’t likely to keep any Netflix executives up at night. More →
If there’s one reason to subscribe to Hulu over Netflix, it’s the ability to watch the latest episode of a TV show just hours after it airs. Streaming current seasons of shows has been one of Hulu’s biggest draws from the outset, but as talks are heating up between Hulu and Time Warner, the future of current-season streaming could be on the line. More →
We’ve known for a long time that Apple has been trying to negotiate a deal with content providers for launching its own over-the-top TV streaming service. We also know that these content providers have been stubborn about licensing their shows to Apple and have so far thwarted Apple’s plans to compete directly with Netflix, Amazon and Hulu. This is why I was particularly intrigued to see this morning’s New York Post report claiming that Apple is keeping its eye on Time Warner, Inc. as a potential acquisition target. In short, buying up Time Warner would solve a lot of Apple’s TV problems in one fell swoop. More →
T-Mobile is urging federal regulators to block Verizon’s planned spectrum acquisition from SpectrumCo, a joint venture formed by Comcast, Time Warner and Bright House Networks. Verizon’s pending purchase could be worth $3.9 billion and would help the company build out its nationwide LTE network. In a filing late Tuesday, T-Mobile said the Federal Communications Commission should block the deal because it would place an “excessive concentration” of wireless spectrum in Verizon’s hands, reports the Associated Press. The AWS bands that Verizon is looking to acquire uses the same frequencies that T-Mobile uses for its HSPA+ network. T-Mobile claims that the nation’s No.1 carrier already has a large amount of spectrum and does not need any more, and T-Mobile can “quickly, more intensively, and more efficiently” put the spectrum to use compared to Verizon. MetroPCS, the nation’s fifth-largest wireless provider, also urged the FCC to block the deal, claiming both parties had not provided enough information to prove that the acquisition is in the public’s best interest. Verizon and SpectrumCo hope to close the deal by the middle of this year. More →
Verizon Wireless announced Friday that it plans to acquire 122 advanced wireless services (AWS) spectrum licenses from SpectrumCo, a joint venture formed by Comcast, Time Warner and Bright House Networks, for $3.6 billion. The spectrum covers 259 million POPs. Comcast owns 63.6% of SpectrumCo and will take home $2.3 billion from the spectrum sale, Time Warner owns 31.2% of the company and expects to receive about $1.1 billion, and Bright House Networks will make roughly $189 million on the deal. As part of the agreement, Comcast, Time Warner and Bright House Networks will eventually have the option to sell Verizon Wireless service through wholesale channels. Read on for more. More →
4G is a hot topic here on BGR and as such, we’ve likely become more numb than we should when it comes to advertised data speeds. We’re so used to seeing “theoretical limits” that are so far from reality we just chuckle and move along. The wireline broadband industry, however, is a different beast. According to a study recently conducted by the Federal Communications Commission, major broadband Internet service provides in the U.S. deliver data speeds that are generally between 80% and 90% of the speeds they advertise. The Associated Press reports that the FCC’s study measured data speeds delivered to thousands of U.S. broadband subscribers this past March from 13 of the nation’s top ISPs including Time Warner, Comcast, AT&T and Verizon. The three most popular wired broadband technologies were covered by the study — DSL, cable and fiber — and data rates were said to have been close to the advertised speeds during both peak and off-peak times. The AP notes that the FCC’s study didn’t delve into speeds delivered by wireless data services, which is a study we would love to see. More →
Time Warner has been ordered by a U.S. District Court judge in Washington to identify hundreds of people accused of illegally downloading movies over its broadband network. The ISP had previously argued that identifying the accused parties would be “unfairly expensive and time-consuming,” and it asked that the judge reject the subpoenas for subscriber information. Of the three pending cases where subpoenas for subscriber data were issued, the judge agreed to quash one, as the plaintiff, Maverick Entertainment Group, failed to properly serve the subpoena in compliance with the law. The other two stand, however, and Time Warner will have to identify approximately 250 subscribers. Maverick, one of three movie companies currently seeking the identities of anonymous Internet users who are accused of illegally downloading their copyrighted materials, has 10 days to re-issue the subpoena or it may lose access to the identities of over 700 users. More →