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Business

AT&T, Time Warner deal could come Sunday -sources

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Opening sequence

Business

AT&T, Time Warner deal could come Sunday -sources

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COMING UP:AT&T, Time Warner deal could come Sunday -sources

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00:00:01
>> Shares of Time Warner surging as much as 12% to a 15 year high on Friday on speculation it's doing more than just casually talking with AT&T. Sources telling Reuters the two sides are in deep discussions about a merger, and could announce a tie up before Wall Street returns on Monday.
00:00:20
Talk of fast moving deal making is shaking up the media world, says Reuters media correspondent Jessica Toonkel.>> Let's say you see AT&T buy Time Warner Inc on Sunday. Then CBS and Viacom looks like they're going to merge. So then it's what happens to everyone else. And if you looked at the media stocks today, Discovery was way up, AMC was way up Fox was up.
00:00:41
I mean a big question now is, what do the Murdoch's do? They can't buy Time Warner, and sources have told us they're not interested in buying Time Warner. What are they going to do? They're going to have to buy something to keep up scale.>> If media mogul Rupert Murdoch and his sons don't want Time Warner, then why does AT&T?
00:01:00
With this deal looking like it's coming together It would put the cable world's content crown jewel, HBO, as well as CNN and the Warner Brothers Studios into the hands of AT&T. Which not only provides mobile phone and internet access, but also owns satellite TV provider DirectTV. That would transfer a stagy telecom company into something more along the lines of Comcast, which not only owns the pipes that bring content into homes but also own some of that content, coming through the pipes.
00:01:33
Anybody looking to outdo AT&T's potential offer, would need a sizable war chest, given it's $238 billion market value. That however, is nothing compared to Apple which reportedly approached Time Warner about a deal, a few months ago. This just might get those talks going again.>>
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