CONFIRMED: AT&T Purchases Time Warner For $85.4 Billion
After days of speculation, it's now confirmed that AT&T will purchase Time Warner (parent company of Warner Bros.) for a whopping $85.4 billion USD. What does this mean for the DCEU and DCTV universe?
AT&T chairman and CEO Randall Stephenson stated in an official press release, "This is a perfect match of two companies with complementary strengths who can bring a fresh approach to how the media and communications industry works for customers, content creators, distributors and advertisers."
Time Warner Chairman and CEO Jeff Bewkes added, "This is a natural fit between two companies with great legacies of innovation that have shaped the modern media and communications landscape, and my senior management team and I are looking forward to working closely with Randall and our new colleagues as we begin to capture the tremendous opportunities this creates to make our content even more powerful, engaging and valuable for global audiences."
Both CEO's stated that they expect the deal to be closed before the end of 2017. Once the deal closes, Bewkes will stay on to facilitate a smooth transition before stepping aside for Stephenson to take control of both companies. So don't expect any immediate changes but once Stephenson assumes control of the reigns, there very well could be a change in philosophy and/or wide-sweeping turnover.
Two years ago, 20th Century Fox nearly purchased Time Warner for $80 billion USD.
Once the deal is finalized, perhaps we'll see more advertising like this timeless gem from Super Bowl XXI.
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