AT&T reportedly agrees in principle to buy Time Warner for about $85 billion.
AT&T Inc (T.N) reached a deal to buy media company Time Warner Inc (TWX.N) for more than $80 billion, The Wall Street Journal reported on Saturday.
- The United States Department of Justice antitrust chief has told AT&T that it must sell off either DirecTV or Turner Broadcasting System (the parent of CNN) in order to complete its acquisition of Time Warner. ([http:--money.cnn.com-2017-11-08-media-att-time-warner-index.html CNN])
- The U.S. Department of Justice files a lawsuit blocking the potential merger of AT&T and Time Warner.
- Bloomberg News reports Verizon Communications plans a bid for Yahoo Inc.'s Web business, including Yahoo Japan Corp., next week. Google, Time Inc., and private equity funds Bain and TPG are considering bidding for Yahoo's core business. AT&T Inc., Comcast, and Microsoft Corp. reportedly aren't interested.
- S&P Dow Jones Indices announces it will add the company Apple Inc. to its Dow Jones Industrial Average index of stocks on March 19, replacing AT&T.
- Rupert Murdoch's 21st Century Fox withdraws its $80 billion bid to take over Time Warner.