AT&T has reached an agreement to buy Time Warner for $85.4 billion in a deal that could transform the wireless carrier into a media giant. The combined business would pair millions of TV and cellphone subscribers with Time Warner’s networks such as CNN, TNT, HBO plus the Warner Bros. Film and TV studios. AT&T aims to be the first U.S. wireless company to compete with cable companies by providing an online-video bundle. The deal, if approved, is expected to close by the end of 2017.

via Instagram AT&T has reached an agreement to buy Time Warner for $85.4 billion in a deal that could transform the wireless carrier into a media giant. The combined business would pair millions of TV and cellphone subscribers with Time Warner’s networks such as CNN, TNT, HBO plus the Warner Bros. Film and TV studios. AT&T aims to be the first U.S. wireless company to compete with cable companies by providing an online-video bundle. The deal, if approved, is expected to close by the end of 2017.