A Bloomberg report citing sources familiar with the situation, has revealed that top executives from AT&T and Time Warner have met to discuss a potential merger. Although no deal has been reached, shares of Time Warner still exploded nearly 8% after the news.
A deal could happen however, as soon as this weekend, according to The Wall Street Journal, who cited anonymous sources.
According to the Bloomberg report, Time Warner and AT&T are concentrating on “building relations between the companies, rather than establishing the terms of a specific transaction.” Also according to the report, Time Warner CEO Jeff Bewkes is a “willing seller” if he “gets an offer he thinks is fair.”
AT&T just recently completed its huge acquisition of DirecTV.
Disclaimer: We have no position in AT&T Inc. (NYSE: T), nor Time Warner Inc. (NYSE: TWX) and have not been compensated for this article.