After no small amount of anticipation, it's official: AT&T has announced that it's acquiring Time Warner for the equivalent of $85.4 billion in cash and stock. The move gives one of the US' largest telecoms control over some of the biggest names in movies and TV, including HBO, Turner and Warner Bros. That includes rights to broadcast MLB, NBA and NCAA March Madness games, we'd add. If you ask AT&T, this is a "perfect match" that mates top-tier content with a ton of distribution points. It can easily deliver quality shows over the internet (especially on mobile), conventional TV or in theaters. AT&T won't have to jump through hoops to license material for playback on your platform of choice, and it can create original material just for a specific medium -- say, bite-sized videos for your phone.