The historic acquisition, explained in plain English.

People walk past an AT&T store in New York on October 23, 2016. AT&T unveiled a mega-deal for Time Warner that would transform the telecom giant into a media-entertainment powerhouse positioned for a sector facing major technology changes. The stock-and-cash deal is valued at $108.7 billion including debt, and gives a value of $84.5 billion to Time Warner -- a major name in the sector that includes the Warner Bros. studios in Hollywood and an array of TV assets such as HBO and CNN. / AFP PHOTO / KENA BETANCURKENA BETANCUR/AFP/Getty Images

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AT&T is buying Time Warner. How does this affect you?

AT&T is buying Time Warner in a $85.4 billion deal that could bring sweeping changes to the information and entertainment economies.

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