Following reports that AT&T, the nation’s second-largest wireless carrier, held talks regarding a possible acquisition of Time Warner, AT&T has now formally confirmed that it will be purchasing the entertainment conglomerate in a stock-and-cash transaction valued at $107.50 per share. The purchase price implies a total equity value of $85.4 billion and a total transaction value of $108.7 billion.
The agreement has been approved unanimously by the boards of directors of both companies. It gives AT&T access to Time Warner’s precious media properties like CNN, HBO, TNT and Warner Bros, as well as films like Harry Potter, Batman, Superman and next-generation super hero movies being developed by DC Comics.
The blockbuster merger, pending regulatory approval and closing before year-end 2017, will create a unique company that’ll “define the future of media and communications”.
U.S. wireless carrier is buying media entertainment conglomerate Time Warner for a reported $80 billion as consolidation continues in media and technology industries. AT&T has reportedly agreed to pay $107.50 a share in a half-cash, half-stock deal, The Wall Street Journal reported Saturday. Time Warner, which does not have a controlling shareholder, reported $28 billion in 2015 revenue.
The media giant had a market capitalization of $68 billion before rumors of a possible takeover bid. AT&T currently has a market capitalization of more than $230 billion.
AT&T, the second-largest carrier in the United States, is in advanced talks with media giant Time Warner about a possible merger and Apple “is now monitoring the situation”, people familiar with the matter told the Wall Street Journal. The Cupertino-based gadget maker was first mentioned as a possible suitor for a Time Warner takeover back in January of this year.
According to WSJ, Apple a few months ago approached Time Warner “about pursuing a combination”, but the discussions didn’t progress “beyond a preliminary stage.”
Senior executives at AT&T and Time Warner met in recent weeks to discuss various business strategies, reports Bloomberg. Citing sources familiar with the matter, the outlet says that the talks are informal at this point, and neither side has hired a financial adviser, but the discussions have included the possibility of a merger.
Conveniently timed weeks ahead of the expected iPhone 7 launch next month, U.S. carrier AT&T on Wednesday unveiled modest data upgrades at reduced prices while dropping overage charges for exceeding monthly cellular data caps. The new data plans, available beginning August 21, include the 1GB/$30, 3GB/$40, 6GB/$60, 10GB/$80, 16GB/$90, 25GB/$110 and 30GB/$135 tiers.
Overage charges will become a thing of the past as the carrier will no longer slap you with a $15 per 1GB charge after using rollover data. Instead, your data speeds will decrease to the sluggish 2G (128 kbps) after all of the cellular data in your monthly bucket has been used up.
Credible sources have said that Apple is planning to unveil the next iPhone at a media event scheduled for Wednesday, September 7, with pre-orders beginning on Friday, September 9 ahead of retail availability on the following Friday, September 16. An internal document from AT&T leaked by 9to5Mac, however, now suggests that the handset may actually land on store shelves on Friday, September 23.
Supply chain whispers recently claimed that a significant portion of LTE cellular modems for the iPhone 7 and iPhone 7 Plus would be built by Intel instead of Qualcomm and now Bloomberg is reporting that Intel modems will be actually reserved for AT&T iPhone 7 models.
Qualcomm is expected to remain Apple’s modem provider for Verizon and China-bound iPhone 7 handsets. Qualcomm’s boss had said he expected a major customer to diversify its supplier base.
In a text message sent today to its eligible customers, AT&T announced that those who have activated the Wi-Fi Calling feature on their iPhone can now make and receive phone calls from and to the US at no charge when traveling internationally, assuming they have first updated to iOS 9.3 and installed the newly available carrier update.
This marks a small yet important change to how users can benefit from Wi-Fi Calling. Up until now, Wi-Fi calling for AT&T customers restricted them to using the service only from the U.S., Puerto Rico, or U.S. Virgin Islands. But now, it is opened to any country (except for a few exceptions), meaning an AT&T Wi-Fi Calling user can make calls to the US, or receive calls from the US anywhere in the world as long as there is a Wi-Fi connection.
AT&T on Friday issued a press release detailing its 5G network roadmap. The carrier says it is partnering with Ericsson and Intel to work on 5G solutions in its labs starting in Q2 of this year, and it hopes to be ready for outdoor tests and trials by early summer.
5G speeds are expected to be 10-100 times faster than current 4G LTE connections. AT&T says customers will see speeds measured in gigabits per second, not megabits. For reference, at one gigabit per second, you can download a TV show in less than 3 seconds.
Just before the new year, I decided to take on Sprint’s promotional event of cutting an AT&T, Verizon, or T-Mobile bill in half. Being with AT&T for more than 6 years, and having always wanted to try another carrier for the heck of it, I was lured in by being able to save a few bucks on my monthly bill.
Their offer to pay my contract breaching fees up to $650 from AT&T just about sealed the deal as well.
Knowing that Sprint didn’t have the best service in the world, I was wary, but since I really only use my iPhone for social networking, phone calls, and iMessaging, and wouldn’t be doing things like streaming HD videos on the go, I was going to take the plunge anyway and see whether or not Sprint would be a good fit for my needs.
If you too were thinking about Sprint for your next carrier, then read on, because what I’m about to share with you could make or break your decision and save you a ton of time of cancelling agreements and wasting time and money.