Mobile phone provider AT&T has reached a deal with Time Warner to acquire pretty much everything they own for a stunning $80 billion! The deal will give AT&T access to CNN, HBO, Warner Bros. Entertainment, DC Comics, and more. That's right, AT&T literally owns Batman and Superman now (maybe they can get the DC movie universe on track).
It's unclear what AT&T plans to do with Time Warner at the moment, but no one would make an $80 billion investment without big plans. This isn't the first time AT&T has made big purchases though. Last year the company acquired major TV provider DirecTV and has since integrated deals and services for customers who own both AT&T and DirecTV services.
In 2011, AT&T tried to purchase another major phone provider, T-Mobile. The deal would've cost just $39 billion but AT&T pulled out from the deal after having to deal with a headache from the government that initially blocked the deal.
We will keep you updated as the story develops.
