AT&T Has Reached a Deal to Acquire Time Warner. Now What?

3 key questions arising from $83 billion megadeal

After a report just two days ago that AT&T and Time Warner had engaged in "informal" talks about a possible merger, the two companies have reached a deal in which the telecommunications powerhouse will buy Time Warner for $107.50 per share, or about $85 billion, half in stock, half in cash. The deal was officially announced tonight in a video message from Time Warner CEO Jeff Bewkes.