Motley Fool
AT&T’s Megaspinoff of WarnerMedia Nears the Finish Line
Telecom giant AT&T (NYSE: T) spent years, and tens of billions of dollars, attempting to turn itself into a media conglomerate. It acquired DirecTV to bolster its video business, and after nearly two years of legal wrangling, it successfully acquired Time Warner in an $85 billion deal that closed in June 2018. Time Warner, now known as WarnerMedia, brought with it valuable properties including Warner Bros, HBO, and Turner.
