AT&T agrees to buy Time Warner for $85.4 billion; Trump promises to block the deal if president

AT&T agrees to buy Time Warner for $85.4 billion; Trump promises to block the deal if president
If content is King in the land of mobile devices, AT&T is wearing a rather large crown following the announcement tonight that it has agreed to buy Time Warner for $85.4 billion. So what did the nation's second largest carrier get for all of that money? For starters, it now owns the iconic Warner Brothers studio which is full of reels and reels of hit movies to stream to subscribers. The Harry Potter series and the Batman franchise now belong to AT&T. Warner Brothers also owns a stable of famous cartoon characters; imagine Bugs Bunny holding an iPhone instead of a carrot and repeating his famous line, "What's up Doc?"

Along with the purchase comes a number of cable properties such as CNN, HBO, TBS and TNT. The deal also gives AT&T 10% of streaming video service Hulu. Nearly 30 months ago, AT&T picked up DirecTV for $48.5 billion. As of June, the company counted 142 million wireless subscribers and 38 million pay TV subscribers.

A major question tonight is whether this deal makes it past antitrust regulators. As it is, Republican presidential candidate Donald Trump said tonight about the deal, "It's too much concentration of power in the hands of too few." Trump said that if he wins the election on November 8th, he will block the transaction. However, with CNN's pro-Clinton coverage of the election, this seems more like Trump's usual attempt to get revenge on anyone that doesn't treat the thin-skinned billionaire with the deference Trump believes he is due. The Clinton camp has not yet commented.

Senator Richard Blumenthal (D-Conn.) says that he will examine the transaction, giving it "rigorous evaluation and serious scrutiny." The senator says that he will examine the acquisition to forecast the effect it would have on consumers' pocketbooks. AT&T said that the U.S. Department of Justice will investigate the deal for any antitrust issues.

Time Warner shareholders will receive $107.50 for each share, with half in cash and half in AT&T stock. AT&T says that the deal will add to its earnings in the first year after closing. 

source: Reuters

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43 Comments

1. Omarc07

Posts: 574; Member since: Nov 12, 2012

If trump wins? HAHA i doubt it.

3. Dr.Phil

Posts: 2453; Member since: Feb 14, 2011

People thought the same thing about Brexit, so don't be so sure just yet. By the way, I have to hand it to Alan. Create an unnecessary new article, even though the old one was updated with the relevant information, just to include the politics of this deal. It's guaranteed page views and comments. I hope people start to realize this more.

4. bambamboogy02

Posts: 840; Member since: Jun 23, 2012

Why would bugs Bunny be holding am iPhone? Why not any other device? ATT doesn't own Apple, it was a carrier exclusive up until the iphone4 line. But a website who calls themselves "PHONE"arena, should be unbiased.

5. TasteOfChaos21

Posts: 4; Member since: Aug 18, 2013

Actually he's not holding it....It's a case with his image in it...

6. TasteOfChaos21

Posts: 4; Member since: Aug 18, 2013

Meant On it,Not in it.

10. deewinc

Posts: 455; Member since: Feb 21, 2013

I suggest you read the article you might have skipped that part on last line of the first paragraph.

11. deewinc

Posts: 455; Member since: Feb 21, 2013

The problem with this website is tons and tons of advertisements everywhere. A few days ago I used a VPN service with my IP pinged on a US server. Goodness, Phonearena was barely usable. You are there trying to read an article and huge advertisement starts to stream video advertisements on upcoming video shows for certain US channels. Keep in mind my VPN is a premium service free on any advertisements. Even when I turn off the VPN service, Phonearena is full of advertisement banners everywhere. They need to tone down the advertisements. I love the site but I prefer going through GSMARENA because they don't flood every space on their website with unnecessary advertisements. I know ads help to pay the bills, but user experience matters. This is an informative website comparable to the likes of New York Times making user experience potent. When you use an adblocker the comment box disappears and Phonearena told me that adblockers block comment boxes.

34. Junito

Posts: 145; Member since: Feb 12, 2012

Honestly, I keep hearing you guys talking about these issues. I use my iPad and laptop to access the site, and have not experience any of these problems, with adds. But like I said, you are not the only complaining about it. I use Flash extension with Chrome.

8. Nine1Sickness

Posts: 896; Member since: Jan 30, 2011

PA, just come out and say "Build the wall"

15. lyndon420

Posts: 6836; Member since: Jul 11, 2012

Bush won...and he was a wimp. Trump could very well win and I hope he does. Hillary would be toxic just like Obama.

18. phonehome

Posts: 812; Member since: Dec 19, 2014

Trump - Pepe 2016

19. BobbyDigital

Posts: 2125; Member since: May 29, 2014

President Obama is toxic but Trump isn't?? You sound utterly ridiculous. This is a man who has open disdain People of Color and Women. To vote for Trump you either have to be racist and sexist or ok with racism and sexisn. So which are you?

38. darkkjedii

Posts: 31328; Member since: Feb 05, 2011

Good post BD.

47. BobbyDigital

Posts: 2125; Member since: May 29, 2014

Thanks DJ.

23. VZWuser76

Posts: 4974; Member since: Mar 04, 2010

Yeah, Trump's a real tough guy, with his bodyguards and if he got elected President, the US military behind him. Take that away and he's a sniveling sissy born with a platinum spoon in his mouth. The only reason he's even here is family wealth, not his own business acumen. Most every venture he's had has failed and he left his business partners holding the bag. And why do you even care, this isn't your country anyway. I wouldn't wish Trump on any country in the world. Now to be fair, if any Republican but Trump or Cruz would've gotten the nomination, I most likely would've voted for them.

28. Scott93274

Posts: 6040; Member since: Aug 06, 2013

Trump has filed for bankruptcy 6 times, has been sued over 3,500 times, is quoted saying that he'd be his own foreign policy advisor, thinks that our ALLIES should start paying us for our protection against aggressive foreign threats, is for the use of nuclear weapons, has openly reached out to Russia to interfere with a national election, has somehow alienated himself from almost all members of his own political party due to his sheer ignorance. He thinks the president has authority over sovereign nations by thinking that he'll have any say as to whether or not Mexico will pay for an American mandated border wall. He's the first presidential candidate since the 1970's that hasn't released his tax forms and lied about the reasoning why he cannot, and was later revealed that he hadn't paid federal taxes in two decades due to a loss of nearly $1,000,000,000. He is wanting to give breaks to big business, yet absolutely Z-E-R-O of the Fortune 100 CEOs endorse Trump (A very first time for a republican candidate) meaning the most successful businessmen in the world see him for the disaster he is. His supporters say that only he can defeat Isis, yet they're against COMMON SENSE gun laws that restrict people on the no-fly list from purchasing firearms, saying anything of the sort is a violation of their constitutional rights, yet they want to destroy democracy with one of their more recent campaigns to "Repeal the 19th amendment" which granted women the right to vote. To me, it looks particularly ironic that a group of people so dead set on defeating terrorists are ignorant to the fact that they are slowing adopting the violent and oppressive nature of the people they're so desperate to defeat. And then there's all the more personal stuff, more and more sexual assault allegations come out every week, even his ex-wife says he raped her, and this accusation was over two decades ago, so this is nothing new. his objectification of women, his racial stereotyping of minorities, his disrespect of POW, and those suffering from PTSD, ridicule of those with mental or physical handicaps, The simply and absolutely undeniable fact that he denies half the stuff he's ON RECORD for saying, indicating that he's a compulsive liar. Putting that man in charge of the United States is like playing Russian Roulette by yourself, where all chambers of the revolver are loaded.

33. Junito

Posts: 145; Member since: Feb 12, 2012

But not as toxic as Bush Jr. hence the vacuum created in the middle east. Lets not forget the fiasco of 911, where the presidents and his cronies made lots of money. One word Halliburton. I guess you miss the good old days, making money.http://www.politifact.com/truth-o-meter/statements/2010/may/24/chris-matthews/chris-matthews-says-cheney-got-34-million-payday-h/

2. kiko007

Posts: 7518; Member since: Feb 17, 2016

Trump would promise Mars colonization next year if it could save his sorry ass.....

12. darkkjedii

Posts: 31328; Member since: Feb 05, 2011

LMAOOOOO! He'll then say, Mars is rigged.

22. VZWuser76

Posts: 4974; Member since: Mar 04, 2010

Nah, he'll kiss the first lady martian he sees, because if you're a celebrity they let you do that. Then he'll deny it and say a girl from Neptune would be his first choice.

25. darkkjedii

Posts: 31328; Member since: Feb 05, 2011

Before he kisses her, he'll grab her by the.......whatever Martian chicks have lol.

39. FlySheikh

Posts: 444; Member since: Oct 02, 2015

Haha!

29. Scott93274

Posts: 6040; Member since: Aug 06, 2013

Well, it is. lol

31. darkkjedii

Posts: 31328; Member since: Feb 05, 2011

Lol right.

20. lyndon420

Posts: 6836; Member since: Jul 11, 2012

More like Trump would promise to reveal Mars colonization next year. :)

30. Scott93274

Posts: 6040; Member since: Aug 06, 2013

Hey, I fully support making Trump the supreme ruler and lone occupant of Mars. Elon Musk, MAKE THIS HAPPEN!

32. darkkjedii

Posts: 31328; Member since: Feb 05, 2011

Please do.

7. ipadminiz5pmeizumx4htcone

Posts: 8; Member since: Oct 20, 2016

oMG , Philippines have Duterte the smartest president and with the most genuine thinking while US may have Trump, the most coolest of all.....

24. Pattyface

Posts: 1658; Member since: Aug 20, 2014

Dumbest comment of the day.. thanks

35. Scott93274

Posts: 6040; Member since: Aug 06, 2013

I second that.

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