AT&t (NYSE:T) on Monday announced the acquisition of Time, Inc., which is now known as Time Warner.
The transaction, which was completed on Sept. 6, will allow AT&ts to further expand its Time business and the company’s content delivery capabilities.
The company has already signed a number of acquisitions to expand its distribution footprint.
AT&Ts largest acquisition was the $4.6 billion acquisition of AOL in 2013, which helped transform the online news provider into one of the largest online news companies in the world.
AT &ts move will help AT&ters revenue growth, according to analysts.
The deal, which has been completed, is valued at $2.3 billion.
Time Warner is the parent company of Time Inc., the online subscription service that is a part of the Time Warner Cable network.
AT will acquire Time Warner in a $10 billion deal.
Time’s business is dominated by video and mobile video, and AT&tg has struggled to find content for the platform.
The news, entertainment and news services company’s digital advertising business, which includes Time Warner Sports, Time Warner Digital, and Time Warner’s sports sites, has seen growth over the past year.
ATs acquisition will bolster the companys position as the leading provider of media and online advertising, according company President and CEO Randall Stephenson.
“We’ve always been a media company that’s very much about video and digital,” Stephenson said in a statement.
“It’s a new business, but we’ve always focused on digital.
We’ve done very well in the digital business and we’re looking forward to getting back to our core audiences.”
AT&tc recently added new digital content partners, including Hulu, HBO Now, Amazon Prime Video, and Vimeo.
AT is also launching a standalone broadband and TV service for AT&tl customers.
AT’s media acquisitions have not helped its business.
The Time Warner deal is the largest in the company s history.
AT already has more than 500 million video subscribers.
AT was valued at about $42 billion in 2015.