AT&T × Time Warner Acquisition

On October 22, 2016, ATT officially announced that they intended on acquiring Time Warner for $85.4 billion or $108.7 billion when including assumed Time Warner debt, valuing the company at $107.50 per share. The proposed merger was confirmed on June 12, 2018, after ATT won an antitrust lawsuit that the U.S. The Justice Department filed in 2017 to attempt to block the acquisition. The deal was completed two days later, when the company became a subsidiary of ATT. On May 17, 2021, nearly three years after the acquisition, ATT decided to leave the entertainment business by announcing that it had proposed to sell its ownership of WarnerMedia in a merger with Discovery, Inc. to form a new publicly traded company, Warner Bros. Discovery. The deal closed on April 8, 2022.