October 2016: AT&T to Buy Time Warner for $85.4 Billion
Here's a slideshow depicting the major U.S. news events of October 2016.
1. Police Kill Black Man in L.A. 2. FBI Announces Arrest of NSA Spy 3. FCC Fines Comcast 4. Arson Causes $2 Million in Damage to Dakota Access Pipeline 5. School Shooting in San Francisco 6. Hackers Cause Internet Blackout 7. AT&T Offers to Buy Time Warner 8. Chicago Cubs Are National League Champs 9. U.S. Judge Approves Volkswagen Deal 10. Dakota Access Pipeline: 141 Arrested 11. Oklahoma Fugitive Killed in Shootout with Police
- AT&T to Buy Time Warner for $85.4 Billion
- On Oct. 22, 2016, AT&T announces their intent to buy Time Warner, the company that owns HBO and CNN. AT&T is spending $85.4 billion to acquire the company, which was previously purchased by AOL in what analysts consider one of the largest merger follies. This buy is another in a growing list of recent mergers in the telecommunications industry. Recently, Comcast purchased NBCUniversal and Verizon purchased Yahoo! and Huffington Post. This sale must be approved by government regulators before it becomes final.
- Photo source: AP Photo/Richard Drew