AT&T has announced a deal to purchase Time Warner for $85.4 billion, reports the Wall Street Journal.
The deal means the joining of AT&T's millions of subscribers and Time Warner's deep media lineup which includes properties such as CNN, TNT, HBO and Warner Brothers.
This merger is the largest media deal since Comcast Corp.'s purchase of NBCUniversal.
A pretty severe regulatory review is expected and so the deal likely won't be completed in full until 2017.
Donald Trump said in a speech this morning that if he became president, he would block the deal from being completed.
Trump also singled out the deal that saw Comcast purchase NBCUniversal.
Based on the available evidence from previous deals, AT&T buying Time Warner for $100B is a sign you should sell every media stock you own— Mathew Ingram (@mathewi) October 22, 2016
Many people online are guessing at how the deal will affect their portfolios.
The 2000 Time Warner/AOL deal took about 10 years to unravel. How long will AT&T/Time Warner last?— John Cassidy (@JohnCassidy) October 22, 2016
In fact, some are already predicting the deal's downfall.