Time Warner has earned more than anticipated revenue from his super hero movie, Suicide Squad. The revenue was both from theater and pay TV providers. The total revenue rose by 9% by the end of September to $7.2 Bn with net profit of $1.47 Bn.
AT&T is in the process to buy Time Warner for $85.4 Bn. Time Warner owns entities such as Warner Brothers Film Studio, HBO channel, Cartoon Network along with CNN.
This deal will combine AT&T’s network which has 130 million mobile users along with 25 million pay TV subscribers with Time Warner’s entire business possessions.
Time Warner’s CEO and chairman said that the upcoming merger of the two companies will bring a greater outcome for stakeholders and would help both the companies in the future.