AT&T To Pay $85.4 Billion For Time Warner

Dallas-based AT&T said on Saturday that it will pay $107.50 per share, or approximately $108.7 billion, for Time Warner, as it looks to compete with cable and other providers. The deal has an enterprise value of $85.4 billion, after accounting for Time Warner's debt. AT&T said the deal will help combine Time Warner's library of content and ability create new content, with its existing pay TV subscriber base and TV, mobile, and broadband distribution.