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AT&T has reached a deal to acquire Time Warner for $85.4 billion in a blockbuster deal that carries with it the potential to reshape the media industry. AT&T will acquire HBO, Turner Broadcasting System and Warner Bros., giving them ownership of such properties as CNN, Cinemax, The CW, Cartoon Network, TNT and TBS, which has deals to carry MLB and NBA games, DC Comics, Bleacher Report, SI.com and NASCAR.com.
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