As had been leaked over the past two days, moments ago the WSJ confirmed that AT&T has agreed to buy Time Warner in a deal worth more than $80 billion, or between $105 and $110 per share, with the transaction set to be announced “as soon as Saturday evening.”
The boards of the two companies are meeting on Saturday to approve the transaction, the WSJ said citing people familiar. The $80BN deal is half cash and half stock. The transaction brings together millions of AT&T wireless and pay-TV subscribers – recall AT&T’s most recent mega deal was its $50 billion acquisition of DirectTV – with Time Warner’s dep content and media lineup, including networks such as CNN, TNT, the cash cash that is HBO, Warner Bros. film, TV studio.
The transaction would be far and away the biggest media deal of recent years. Time Warner had a market capitalization of $68 billion before The Wall Street Journal reported on the advanced talks Friday, while AT&T’s was $233 billion. AT&T has been shifting its sights to media and video in recent years, diving deeper into television after its nearly $50 billion deal to acquire satellite television provider DirecTV last year. That made AT&T, which traces its roots to the old ‘Ma Bell, the country’s biggest pay television provider as well as its second-largest wireless operator.
As the WSJ writes, “the acquisition is valued at more than $80 billion and pushes the carrier deeper into the traditional entertainment business at a time of stalled wireless growth.” The good news for Time Warner CEO Jeff Bewkes, is that by rebuffing a takeover bid from 21st Century Fox two years ago for $85 a share, he has managed to generate another 30% in upside to shareholders all thanks to an epic scramble for yield, which is what will make this deal possible.
This latest megamerger would be the most ambitious marriage of content and distribution in the media and telecom industries since Comcast Corp.’s purchase of NBCUniversal and would create a behemoth to rival that cable giant. A rigorous regulatory review is expected and the acquisition of Time Warner likely wouldn’t close until late 2017, people close to the process said.
Regulators have indicated misgivings about the prior Comcast-NBCU deal—in particular, whether obligations placed on Comcast were tough enough and enforceable—so it is unclear if they will be willing to bless another such merger. At the very least, former regulatory officials say there could be significant conditions placed on the combination.
To be sure, the deal may quickly become a no deal should Trump get elected on November 8.
CRESCENT (BARBARICALLY-SLAUGHTERED) HALAL MEATS are now being sold in Walmart stores in 77 locations in 11 states across America.
Crescent Foods (h/t ENM) the nations’ leading provider of Premium Halal Chicken is now supplying their quality products to 62 new Walmart Supercenter and Walmart Neighborhood Market locations across the country in addition to the existing 15 they have been serving for close to 4 years. New Jersey, Pennsylvania, Texas, Ohio, Wisconsin, Indiana, Maryland, Delaware and Iowa have joined Illinois and Michigan to become the first eleven states where consumers can buy the chicken they trust on a regular grocery trip.
“We have been inundated with requests from Muslim consumers asking us when they could buy Crescent chicken in their state and we are excited to be able to cater to that demand,” said Joohi Tahir, Vice President of Marketing at Crescent Foods.
“It makes good business sense for us to cross over to the mainstream market and for Walmart to recognize the potential of this All Natural and Premium Halal product. After all, the Halal consumer is a significant growing market sector with purchasing power of over $170 billion a year”.
Crescent consumers know that the Premium Halal Chicken they buy is a better choice for their family’s health. The chickens roam cage-free and are able to grow naturally without antibiotics or hormones. They are raised and processed humanely and fed a 100% vegetarian diet free of by-products of any kind. All Natural. Pure & Simple®.
Walmart currently carries an assortment of items including Crescent whole chicken, boneless skinless breast fillets, leg quarters, thighs, boneless skinless thighs, drumsticks, ground chicken and wings.
“Our lives are so busy, that one-stop shopping is a great blessing,” said Aisha Ahmad, a working mom of three in Elgin, Illinois. “I am so pleased that I can buy Crescent chicken at my neighborhood Walmart. It gives me peace of mind that what my family loves to eat is actually good for them!”
For a complete listing of stores that carry Crescent chicken, visit www.crescenthalal.com and search by state on the Where To Buy Tab or visit us on facebook.com/crescentfoods.
Crescent foods is Halal certified by the Shar’l Zabihah Committee which is a division of the Rahmat-e-Alam Foundation according to Crescenthalal.com.
If you’re concerned that a local business or restaurant is selling halal products, Zabihah.com is the best guide for pointing them out. The site allows users to search by country, state, and city.
Florida Family Association makes it easy for you to email your complaints to Walmart here:
Partial list of other food outlets that sell sharia-compliant halal foods
Not all locations sell halal foods. You should ask when you go to any of the following: