The pool of companies that control most of the media you devour on a daily basis continues to get smaller it seems. You can trace almost everything back to six major conglomerates, with a few smaller players in the mix. One of those major corporate entities is Time Warner, owner of Warner Bros, DC Comics, CNN, HBO, and many other things you likely use daily, and it’s about to be swallowed up by AT&T.
According to CNBC and several other outlets, AT&T has agreed in principle to purchase Time Warner for $85 billion and would instantly make the telecommunications giant a major player in the media landscape:
The deal, which has been agreed on most terms and could be announced as early as Sunday, would be one of the largest in recent years in the sector as telecommunications companies look to combine content and distribution to capture customers replacing traditional pay-TV packages with more streamlined offerings and online delivery.
AT&T, which sells wireless phone and broadband services, has already made moves to turn itself into a media powerhouse, buying satellite TV provider DirecTV last year for $48.5 billion.