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IN Science & Technology ON 23 Oct, 2016
AT&T is a massive telecommunications conglomerate located in Dallas, Texas. In the United States, AT&T has managed to become a behemoth in providing mobile phones and fixed telephone services.
This year, AT&T was noted as one of the world's biggest telecom operators, especially since it has around 130 million customers. Moreover, it looks like the conglomerate is ready to dominate other industries. Do you know what they're currently up to? Read on!
I am a big fan of Time Warner since they own HBO, Cartoon Network, DC Comics, and CNN, among others. They are responsible for giving us Adventure Time, Game of Thrones, and future adaptations of our favorite DC superheroes.
Specifically, AT&T promised to buy Time Warner shares for $107.50 each. Half will be paid in cash while the remaining half will be sent as stocks.
Since a new company will rise from the two conglomerates, Randall Stephenson has stepped up to head the business. Stephenson is the current chief executive of AT&T.
Jeff Bewkes has been the CEO since the 1st of January 2008.
Two of the most lucrative assets are the HBO network and the Warner Bros film and television studio.
Stephenson believes that premium content has always been a successful venture.
If you're wondering how they'll do this, they said that they will provide online-video bundles similar to TV packages.
He was heavily criticized by investors two years ago for rejecting the bid of 21st Century Fox to acquire Time Warner at $85 per share.
Regulators are concerned whenever a competitor is eliminated, but AT&T simply bought Time Warner as a supplier.
In 2000, Time Warner managed to merge with AOL. This deal was both ambitious and questionable.
Mr. Bewkes reassured that the deal will not negatively affect the work opportunities of Time Warner's team.
Both AT&T and Time Warner are confident that their new company will disrupt the old model of TV entertainment and allow mobile customers to experience better content.