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AT&T announces it will buy Time Warner for $86bn | |
(35 minutes later) | |
The US telecoms giant AT&T has announced that it will buy entertainment group Time Warner for $86bn (£70.3bn). | |
The deal was agreed at a meeting of the two boards on Saturday but will still need to be approved by regulators. | |
Correspondents say it is the biggest deal in the world this year. | |
It reflects the desire of the telecoms company to acquire content to stream over its high-speed network and attract more online viewers. |