In yet another giant media merger, AT&T may be trying to buy Time Warner Inc.

After its acquisition of satellite television service DirecTV, telephone giant AT&T Inc. might be setting its sights on an even bigger prize, Time Warner Inc.

Bloomberg News reported Thursday afternoon that AT&T and Time Warner executives have engaged in preliminary talks about a potential merger or other partnerships.

Time Warner shares jumped on news of the talks, closing up $3.75, or 4.7 percent, to $82.99. The New York media company owns HBO, CNN, Cartoon Network, TBS and Hollywood’s largest film and TV studio, Warner Bros.

http://www.startribune.com/in-yet-another-giant-media-merger-at-amp-t-may-be-trying-to-buy-time-warner-inc/397849401/