October 2016: AT&T to Buy Time Warner for $85.4 Billion

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Here's a slideshow depicting the major U.S. news events of October 2016.

AT&T to Buy Time Warner for $85.4 Billion
Time Warner logo at NY Stock Exchange
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
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