AT&T Inc. announced Saturday evening it has agreed to buy Time Warner Inc. for $84.5 billion, a price point of $107.50 a share, split equally between cash and stock. The merger is expected to be complete by the end of next year, and the combined company will be headed by current AT&T Chief Executive Randall Stephenson.
"It's a great fit, and it creates immediate and long-term value for our shareholders," Stephenson said — but it still has to get approval from Washington, which in a populist political climate may make the process difficult or shut it down entirely. Republican Donald Trump has already said his administration would not permit the deal.
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