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Telecoms heavyweight AT&T has struck a deal to buy entertainment powerhouse Time Warner for $80 billion-plus, a banking source said Saturday, in a merger that would create a new media-telecom giant. AT&T is the second-largest US wireless carrier and third-largest cable TV provider in the United States, while Time Warner controls a valuable stable of entertainment content suppliers, including Warner Bros. film and TV studios, the HBO television production group, cable news giant CNN, and the TNT and TBS cable channels. A deal could price Time Warner at more than $105-110 per share, or more than $80 billion, the source said.
By Christine Murray and Olivia Oran MEXICO CITY/NEW YORK (Reuters) - Martin Werner, co-head of Goldman Sachs' investment banking business in Latin America, will depart the Wall Street bank at the end of this year, according to a person familiar with the situation. Werner, who also runs Goldman's investment banking business in Mexico, told the Mexico office last week he was retiring after 16 years at the bank. A spokesman for Goldman Sachs in New York declined to comment.