AT&T wireless plans and HBO subscriptions will now be under the same roof.
A federal judge on Tuesday gave the green light for AT&T’s Time Warner acquisition to proceed, ushering in a media, technology and telecommunications behemoth. CNN is a unit of Time Warner.
The combined company posted nearly $192 billion in sales last year, and is worth roughly $282 billion on the stock market. That would have made it the seventh biggest American company by revenue last year, and it will have the thirteenth biggest market valuation.
The new AT&T offers a wide variety of services. It sells cybersecurity and marketing solutions for businesses. AT&T offers broadband, satellite, wireless connections — and the movies, TV shows and online video that flows over them. And it has a sizable international business too, mainly connecting Mexican wireless customers.
AT&T will also add HBO subscribers, Warner Brother’s film studio and Turner channels. It already has nearly 142 million business and consumer wireless subscribers in the United States and 25.2 million video connections, including Satellite, U-Verse and DirecTV.
Warner Bros. will give AT&T a big presence in Hollywood. It was the No. 2 film studio at the box office last year.
The new AT&T will also reach a huge TV audience, with five Turner cable channels, each with tens of millions of customers.
CNNMoney (New York) First published June 13, 2018: 3:18 PM ET