Deals

AT&T Mulls Reinvention for Web With $86 Billion Time Warner Deal

DirecTV parent wants to own leading Hollywood film, TV studio
Merger accord could be reached Sunday, announced by Monday

AT&T-Time Warner and the Dawn of 'TV Everywhere'

Photographer: Ian McKinnell/Getty Images

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By Gerry Smith and Lucas Shaw

October 22, 2016 at 4:01 AM UTC

Updated on

October 23, 2016 at 12:24 AM UTC

Time Warner Inc. and AT&T Inc. have survived the evolution of color TV and cable over the decades. Now they’re merging to adapt to the latest technological shifts: smartphones and streaming.

More consumers are getting their entertainment online from Netflix Inc. and watching on iPhones instead of TVs. That’s putting pressure on traditional entertainment companies and pay-TV providers. For many, it’s no longer enough just to make TV shows or own a cable company.