Time Warner has earned more than anticipated revenue from super hero movie Suicide Squad’s collection from theater and pay TV providers. The total revenue rose by 9% by the end of September to $7.2bn with net profit of $1.47bn.
AT&T is going to buy Time Warner for $85.4bn. Time Warner owns Warner Brothers Film Studio, HBO channel, Cartoon Network along with CNN.
This deal will bring together AT&T’s network which has 130 million mobile users along with 25 million payTV subscribers and Time Warner’s possessions.
Time Warner CEO and chairman said that the upcoming merger of two companies will bring a great outcome for stakeholders and would help both the companies in long term.