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

AT&T will 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.

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