Desai, PranavZini, Nicholas2024-11-222024-11-222024-01-152024-01-15http://hdl.handle.net/10362/175653On October 22, 2016, the intention of a corporate merger between AT&T and Time Warner was announced. This acquisition represents the first media conglomerate within the telecommunications industry, which has influenced its evolution over the years. "We're building a modern media company," were the words of AT&T’s CEO Randall Stephenson, but despite the initial optimism, the acquisition has been subject to controversy. The case study identifies what were the most significant aspects of this merger and which learnings could be drawn from them. Individual components are proposed as deepening, delving into specific researches as portfolio analysis, industry consequences, and risk management.engSizeMedia conglomerateControversyVertical integrationOvervaluationmaster thesis203603427