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In this Tuesday, May 26, 2015 file photo, pedestrians walk by an entrance to the Time Warner Center in New York. (AP Photo/Mary Altaffer)

AT&T just purchased Time Warner for a whopping $85 billion


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. 

Many people online are guessing at how the deal will affect their portfolios. 

In fact, some are already predicting the deal's downfall. 

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