By John Smith • 23 October 2016 • 8:31
Bugs Bunny and friends
MEDIA giant Time Warner has agreed in principle to a take-over by telecommunications company AT&T which values the group at just under $86 billion (€79 billion) which is far in excess of the GDP of many countries around the world and if it goes ahead it will be one of the biggest acquisitions of all time.
As broadband speeds become quicker and consumers move away from traditional TV channels, it makes sense for AT&T to want to obtain access to exclusive productions in order to allow it to compete with companies such as Amazon and Netflix and Time Warner would certainly do that with companies such as CNN, HBO and the entire film output which includes the Harry Potter, Lord of the Rings and Looney Tunes franchises plus theme parks around the world.
The list of Times Warner properties is almost endless with music and publishing also playing a strong role in its business and licencing generating huge volumes of income through offices strategically based throughout the world.
At the moment, AT&T is the third largest cable TV provider operating in America and this deal which is already opposed by Donald Trump will be scrutinised by media regulators and if their approval is obtained then the deal should be completed in 2017.
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Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica.
Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene.
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