Media giant Time Warner Inc (NYSE:TWX) this morning posted much better than expected earnings results and offered an upbeat forecast, as the company remains on track to be acquired by AT&T next year.
The CEO of Time Warner Inc (NYSE:TWX) today revealed an interesting bit of information about its takeover by AT&T, namely, that the telecom giant was the only firm that approached TWX regarding a buyout.
From Tyler Durden: As had been leaked over the past two days, yesterday the WSJ confirmed that AT&T Inc. (NYSE:T) has agreed to buy Time Warner Inc (NYSE:TWX) in a deal worth more than $85 billion, or $107.50 per share.
Shares of Time Warner Inc (NYSE:TWX) were up as much as 12% on Friday afternoon, after reports surfaced that the company could receive a buyout bid as soon as this weekend.
According to a Bloomberg report, AT&T Inc. (NYSE:T) and Time Warner Inc (NYSE:TWX) executives recently met to discuss a potential mega merger.
Media giant Time Warner Inc (NYSE:TWX) on Wednesday posted market-beating Q2 earnings results, but the bigger news coming out of the report was the disclosure of the company’s 10% stake in streaming media provider Hulu.