Report: AT&T, Time Warner merger could happen very soon
AT&T is in advanced talks to acquire Time Warner, and it could happen as early as this weekend.
The talks were first reported by the Wall Street Journal.
The report has Time Warner's stock up 8.5 percent Friday.
AT&T executives have been in conversation to possibly buy Time Warner. The two companies had discussed a number of alternatives, people familiar with the matter told CNBC.
Time Warner declined to comment to CNBC. AT&T did not respond.
Time Warner has a market value of about $65 billion, while AT&T stands around $238 billion.
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