|Media shakeup. AT&T is purchasing Time Warner, Inc.|
Media titians AT&T and Time Warner may merge if the deal goes according to plan. The $85.4 billion on the table could lead to one of the biggest media mergers ever.
Time Warner is the parent company of its cable division, Warner Bros. Studios, New Line Cinema, CNN, HBO, Cinemax, TBS, Cartoon Network, DC Comics, Time Magazine, People Magazine, The CW Network and TNT.
AT&T the telephone media giant has digital marketing and DirecTV, Cricket, Quickplay and BellSouth.
The move happened tonight in which AT&T is determined to go beyond the wireless and internet industry into television programming.
The deal has to go through government regulators and Congress approval before it's a go. It will start making moves in 2017.
This deal is huge and it could rattle the networks.
The two been discussing this issue for months. It was leaked to the junk food media on Thursday.
The confirmation came as the two companies worked out a deal to make it happen.