AT&T to buy Time Warner for more than $80 billion

AT&T has reached an agreement to buy Time Warner for $86 billion, according to a person familiar with the plans, in a deal that would create a new colossus in the worlds of media and telecommunications.
The wireless carrier agreed to pay $107.50 a share, the source said The potential union would probably face heavy scrutiny from government regulators, who have shown increasing skepticism about such mega-mergers.