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AT&T is throwing down some serious cash for Time Warner

An official announcement is forthcoming.

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April Siese

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A massive merger of monstrous proportions could be coming if all goes according to plan for AT&T. The telecom giant has agreed to purchase Time Warner for more than $80 billion, according to the Wall Street Journal.

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It’s unclear how much the final purchase price will be, though half of those funds will reportedly come from stocks. The deal is expected to take quite some time—perhaps a full year or more—until it’s finalized due to regulatory review.

An official announcement detailing more information about the acquisition is expected as early as Saturday evening.

Update 11:15pm CT Oct. 22: A deal has officially been reached. AT&T is set to pay $85.4 billion for Time Warner, forking over $107.50 per share in a cash and stock agreement. The boards of both companies have approved the deal, which includes the merging of properties like HBO, Warner Bros., and Bleacher Report, as well as a 10 percent stake in Hulu.

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