AT&T is nearing a deal to acquire Time Warner for $110 per share, a price tag to the tune of $85 billion for the telecom. According to Reuters, AT&T has reached an agreement in principle, which is a kind of stepping stone on the path to a formal contract. It essentially puts in place the terms of a future contract, but it is not an indication of a closed deal.

However, a finalized deal could be approved as soon as Sunday and may be announced on Monday, according to Bloomberg, which earlier today originally reported the per-share acquisition amount. At $110 a share, AT&T would be paying a roughly 23 percent premium on Time Warner’s market value at close this afternoon, which was around $70 billion. AT&T is worth about $226 billion.

If…

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