Time Warner’s stock jumped more then 8% after the news broke that the company maybe in advanced talks with AT&T about a possible acquisition.
Reports of talks were reported Thursday evening. Reps for both companies have been tight lipped since then.
Time Warner CEO Jeffrey Bewkes has asserted that Time Warner — home of Warner Bros., HBO and Turner — did not need to grow to remain competitive amid a fast-changing landscape for film and TV. But the talks with AT&T underscore that the industry is poised for another round of consolidation.
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