The head of the U.S. Federal Communications Commission does not expect to review AT&T Inc’s planned $85.4 billion acquisition of Time Warner Inc , a spokesman for the agency said on Monday. FCC Chairman Ajit Pai had told the Wall Street Journal in an interview on Monday at the Mobile World Congress in Barcelona that he did not foresee a role for the FCC on the takeover and his comments were confirmed to Reuters by FCC spokesman Neil Grace.
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Time Warner to Sell TV Station Amid AT&T Merger
“Time Warner Inc. agreed to sell its Atlanta television station to Meredith Corp. for $70 million,” confirms the Wall Street Journal , “removing a significant factor that could have prompted the Federal Communications Commission to review Time Warner’s $85 billion sale to AT&T Inc.” New FCC Chairman Ajit Pai has yet to say whether he plans to have the agency review AT&T’s mega-purchase. As of press time, he has also declined to remark on what impact the Atlanta station sale might have on any possible FCC review.
Democratic senators want AT&T to detail Time Warner deal benefits
WASHINGTON: Thirteen Democratic senators on Wednesday asked AT T Inc to explain how its planned US$85.4 billion takeover of Time Warner Inc is in the public interest, as the company hopes to avoid a review of the deal by the primary U.S. telecommunications agency.Earlier this month, AT T said in a securities filing it expected to bypass the U.S. Federal Communications Commission in its acquisition of the owner of HBO, CNN, Turner Broadcasting and Warner Brothers and only face U.S. Justice Department review.AT T does not plan to acquire a Time Warner TV station in Atlanta that has an FCC license, which would automatically trigger a review.Democratic senators Al Franken, Elizabeth Warren, Bernie Sanders, Ed Markey and nine others urged AT T and Time Warner in a letter to submit a public interest statement to them by Feb. 17 that would required as part of an FCC review “detailing how you … (more)
AT&T sees faster path for deal
AT&T Inc. and Time Warner Inc. said they can avoid having the Federal Communications Commission scrutinize their proposed merger, eliminating a significant hurdle in the path of the $85.4 billion deal, which has attracted criticism from President-elect Donald Trump. “While subject to change, it is currently anticipated that Time Warner will not need to transfer any of its FCC licenses to AT&T in order to continue to conduct its business operations after the closing of the transaction,” the companies said in a regulatory filing dated Thursday.