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AT&T Blockbuster Pushes Record M&A Run to Cusp of $2 Trillion

  • Deal values are up across all sectors amid pandemic rebound
  • AT&T media spinoff is largest deal announced this year
Bloomberg business news
'Nimble' AT&T Smart to Spin Off Media Assets: Jones Day

The value of mergers and acquisitions is on course to pass the $2 trillion milestone in record time this year, boosted by the blockbuster spinoff of AT&T Inc.’s media business.

AT&T said Monday it will merge its WarnerMedia business with Discovery Inc. in a surprise reversal for a company that spent $85 billion to acquire the assets less than three years ago. The transaction values the combined entity at about $130 billion including debt, based on WarnerMedia’s estimated enterprise value of more than $90 billion.