AT&T wants Time Warner

AT&T is reportedly working on a deal to acquire media giant Time Warner.

The Wall Street Journal reports that the two sides are in "advanced talks" on a tie-up that would give AT&T control of a media empire that would include the Warner Bros studio, CNN and HBO.

Though the report does not list any possible terms, any possible deal is believed to be worth at least $100bn, based on Time Warner's market cap.

A tie-up with Time Warner would give AT&T even more incentives to offer customers through its U-Verse platform and the DirecTV satellite company it recently acquired for $48.5bn.

That empire would not, however, include Time Warner Cable, which was spun off as its own company years ago and recently combined up with Charter Communications to form its own cable mega-carrier. ®