The Wall Street Journal: AT&T reaches deal to buy Time Warner for $80 billion–plus: Wall Street Journal

AT&T Inc. T, -3.00% has reached an agreement to buy Time Warner Inc. TWX, +7.82% for between $105 and $110 a share, with a deal likely to be announced as soon as Saturday evening, according to people familiar with the plans.

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Time Warner headquarters at Columbus Circle in Manhattan. AT&T is headquartered in Dallas.

The boards of the two companies are meeting on Saturday to approve the transaction, the people said. The deal is half cash and half stock, according to one of the people.

Also see:Donald Trump cites CNN in vowing that his administration would block AT&T–Time Warner deal

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