(Telecompaper) AT&T has agreed to acquire the media group Time Warner for a combination of cash and stock worth USD 85 billion. After expanding to Mexico and acquiring satellite TV provider DirecTV last year AT&T is looking to video content for its next area of growth, acquiring with Time Warner assets such as HBO, CNN, TNT and the Warner Bros film studio. AT&T said the combination will mean networks to deliver "world's best premium content" to every screen.