AT&T Discussed Takeover In Meetings With Time Warner by Reuters @FortuneMagazine October 20, 2016, 4:28 PM EDT E-mail Tweet Facebook Linkedin Share icons Senior executives of telecommunications company AT&T and media conglomerate Time Warner have discussed various business strategies including a possible merger in recent weeks, Bloomberg reported on Thursday, citing people it said were familiar with the matter. Time Warner shares twx jumped 4.7% in regular trading and extended gains slightly after hours. AT&T shares t slipped 1.8%. Neither side has yet hired a financial adviser, Bloomberg said. Time Warner declined to comment. AT&T could not be immediately reached for comment. AT&T has been seeking to transform itself into a media powerhouse, most recently buying satellite TV provider DIRECTV. Time Warner has a market value of about $65 billion. AT&T has a market value of about $238 billion.