AT&T Reaches $80 Billion Deal to Purchase Time Warner

AT&Twill purchase Time Warner for over $80 billion, The Wall Street Journal reports Saturday afternoon. “According to people familiar with the plans,” the two companies will likely announce this as soon as Saturday night. AT&T will reportedly pay between $105 and $110 a share for Time Warner. According to another anonymous source, the deal is half-cash, half-stock. – Eve Peyser, Gizmodo