ONENAIJA

 AT&T has reached a deal to buy Time Warner for between $105 and $110 per share, The Wall Street Journal is reporting. That puts the deal's value at more than $80 billion. A formal announcement from the two companies is expected as soon as Saturday night. The deal will allow AT&T to expand into the television business, picking up channels like HBO and CNN. Time Warner shares surged about 2.76% during after-hours trading. Former Fox executive Peter Chernin will likely oversee Time Warner's operations, according to The Hollywood Reporter. Chernin declined a comment to The Hollywood Reporter. The Time Warner deal will likely face intense scrutiny as it goes through the regulatory process. However, there is some precedent. Comcast, another operator, was allowed to acquire NBC Universal in 2013. If the acquisition happens, AT&T would own a host of content from major networks like HBO, CNN, and TNT. It also signals an attempt by the operator to vertically integrate d...