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AT&T closes Time Warner deal; Microsoft buys Playground Games

S&P Global Market Intelligence provides a wrap-up of U.S. companies' media and communications deal announcements and completions from June 11 to June 15.

* AT&T Inc. completed its $85.4 billion acquisition of Time Warner Inc., bringing Warner Bros., HBO and Turner Broadcasting System Inc. under the former's leadership. Time Warner's former Chairman and CEO Jeff Bewkes will remain with the company as a senior adviser during the transition period. Meanwhile, all Time Warner staff reporting to Bewkes will be moved under the leadership of John Stankey, CEO of AT&T's media business.

* Broadcaster Entravision Communications Corp. acquired Smadex SL, a digital advertising technology company. The acquisition was completed via Entravision's Headway business unit, the company said June 13.

* Global communications company ViaSat Inc. acquired Horsebridge Defence and Security, a U.K.-based company focused on design, system integration and support of deployable secure networks. The Horsebridge Defence and Security team will be integrated into the communications provider's Farnborough, U.K.-based organization.

* Telaria Inc. acquired SlimCut Media Canada Inc., a global video outstream technology services company. Telaria said the deal enhances its video management platform with a customized outstream product for premium publishers and establishes publisher presence in Canada and France. SlimCut co-founders Damien Véran and Thomas Davy will join Telaria.

* Workday Inc. agreed to acquire all of the outstanding shares of business planning company Adaptive Insights Inc. for approximately $1.55 billion. The purchase price includes the assumption of approximately $150 million in unvested equity issued to Adaptive Insights employees. Subject to closing conditions, the deal is expected to close in the third quarter of Workday's fiscal year 2019, ending Oct. 31. Upon closing, Adaptive Insights will continue to be led by CEO Tom Bogan.

* Microsoft Corp. acquired Playground Games and signed letters of intent to buy three other game studios: Ninja Theory, Undead Labs and Compulsion Games. Based in the U.K., Playground Games is a development partner since 2010 that has worked on the "Forza" franchise. Microsoft also said June 10 that it is setting up a new studio in Santa Monica, Calif., called The Initiative, as part of the company's efforts to bolster original content. The new teams will join Microsoft Studios.