Old Media, New Love: AT&T And Time Warner Reach $85B Deal

Old Media, New Love: AT&T And Time Warner Reach $85B Deal

AT&T (NYSE: T) has agreed to acquire Time Warner (NYSE: TWX) in a stock-and-cash transaction valued at $107.50 per share, a mega-merger that combine AT&T’s wireless, broadband and satellite TV services with Time Warner’s vast portfolio, which includes the Warner Bros. movie studio and cable TV networks like CNN and HBO.

AT&T – Time Warner Merger

The purchase price implies a total equity value of $85.4 billion and a total transaction value of $108.7 billion, including Time Warner’s net debt. The agreement has been approved unanimously by the boards of directors of both companies.

Bonhoeffer Fund July 2022 Performance Update

Screenshot 27Bonhoeffer Fund's performance update for the month ended July 31, 2022. Q2 2022 hedge fund letters, conferences and more The Bonhoeffer Fund returned 3.5% net of fees in July, for a year-to-date return of -15.8%.   Bonhoeffer Fund, LP, is a value-oriented private investment partnership for . . . SORRY! This content is exclusively for Read More

Reports of a potential deal proliferated the headlines Friday, and investors seemed to like the idea—at least from Time Warner’s perspective. TWX stock shot up from below $80 per share on Thursday to nearly $94 at one point, finishing the day at $89.48 per share and giving the company a market value of about $70 billion. AT&T stock, meanwhile, took a bit of a tumble after reports of an approaching deal, falling about 3% from end-of-