Report: AT&T and Time Warner holding early discussions about possible merger [Update]

[Update 10/21: WSJ now reports that the talks are further along than previously reported, adding that a deal could be announced this weekend.]
While Apple was once rumored to have an interest in acquiring Time Warner, Bloomberg now reports that AT&T has recently held discussions with the company to talk about a possible merger. The report cites “people familiar with the matter” and claims that, while the talks at this stage are informal, the two companies have focused on “building relations.”