WSJ : AT&T In Advanced Talks To Buy Time Warner

(RTTNews) - AT&T Inc. (T) is in advanced talks to buy Time Warner Inc. (TWX). A deal could be announced as soon as this weekend, the Wall Street Journal reported citing people familiar with the matter.

The news comes following a Bloomberg report Thursday that the two companies have been discussing an acquisition.

The WSJ noted that a deal would unite AT&T's portfolio of wireless, broadband and satellite TV services with Time Warner's entertainment empire, which includes cable networks such as TNT, TBS, CNN, the coveted premium channel HBO, and the Warner Bros. film and TV studio.

The Journal reported that the talks toward what likely would be a cash-and-stock deal have come together quickly, are fluid, and still could fall through. An agreement also could be delayed.