Report: AT&T in 'advanced talks' to buy Time Warner

Jeff bewkesAstrid Stawiarz/Getty ImagesTime Warner CEO Jeff Bewkes.

AT&T is in “advanced talks” to buy Time Warner, The Wall Street Journal reports.

The news comes following a Bloomberg report Thursday that the two companies have been discussing an acquisition. The WSJ report says a deal could be announced as soon as this weekend.

Time Warner’s shares have been halted after exploding on the news.

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