Deal Structure
TW Founding Facts
AT&T Facts
100

This is the total per-share price AT&T should agree to pay for Time Warner. 

$107.50

100

Time Warner officially formed in 199_?

1990


100

Where is AT&T headquartered? 

Dallas, Texas

200

AT&T used these short-term instruments from JP Morgan and Bank of America to fund the cash portion of the deal. 

Bridge loans

200

Who served as Time Warner's CEO during its final years before being acquired by AT&T?

Jeff Bewkes

200

How many US wireless subscribers does AT&T have? (Hint: 13_ Million)

135 Million

300

This deal element allowed Time Warner to receive a certain number of AT&T shares for each TW based on AT&T's current stock price. 

Stock collar

300

Which Time Warner division had the highest EBIDA in 2016? 

Turner Broadcasting System

300

What business line does AT&T accrue the most revenue and EBITDA? (Enterprise solutions, entertainment, internet services, or consumer mobile services)

Enterprise solutions

400

This metric was equal to AT&T's WACC of 4.7%, indicating that the deal would not generate additional economic value. 

ROIC (Return on Invested Capital)

400

What caused Time Warner's merger with AOL in 2000 to fail?

The dot-com bubble burst

400

What businesses spun out of AT&T in 2022?

WarnerMedia & HBO