AT&T and Time Warner executives have met to discuss business strategies that could include a merger, according to Ed Hammond, Alex Sherman and Scott Moritz at Bloomberg.
The talks are informal, and neither side has hired an adviser, according to the report.
Time Warner’s share price jumped 5% on the news, while AT&T dropped 2.2%.
Time Warner has been an attractive target for several large companies. Apple considered buying the company earlier this year, according to the Financial Times.
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