AT&T Inc., Dallas, agreed to purchase Time Warner Inc., New York, potentially creating a combined company with about $89 billion in retirement plan assets.
The $85.4 billion purchase is expected to close at the end of 2017, AT&T announced in a news release.
As of Dec. 31, AT&T's defined benefit plan assets totaled $42.2 billion, according to the company's most recent 10-K filing, and defined contribution plan assets totaled $39.5 billion, according to the company's most recent 11-K filings.
As of Dec. 31, Time Warner's defined benefit plan assets totaled $2.7 billion, according to the company's most recent 10-K filing, and defined contribution plan assets totaled $4.2 billion, according to the company's most recent 11-K filing.
AT&T spokesman Fletcher Cook and Time Warner spokesman Keith Cocozza could not be immediately reached for further information.
