att may have to sell cnn to merge with time warner
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today
Media » TV

AT&T may have to sell CNN to merge with Time Warner

Arab Today, arab today

Arab Today, arab today AT&T may have to sell CNN to merge with Time Warner

AT&T
New York - Arab Today

US authorities have told AT&T and Time Warner they must sell the CNN news channel or satellite operator DirecTV to get the green light for their merger, a source close to the deal told AFP on Wednesday.

The Justice Department, which is reviewing the $85.4 billion deal, recently presented the options to the companies, the source added, confirming reports from US media and the Financial Times.

The move is likely to draw criticism and could be seen as political payback, since US President Donald Trump has repeatedly criticized CNN for its coverage of him, calling it "fake news."

The source said the companies were told that Time Warner would need to sell off Turner, the television division that includes CNN. But AT&T has said it doesn't want to lose the all-news network in the deal.

The other option would be for AT&T to sell its DirectTV division, the source said.

On Wall Street, Time Warner fell 6.5 percent to close at $88.50, while AT&T shares jumped 1.1 percent to close at $33.44.

AT&T's chairman and CEO Randall Stephenson said in a statement Wednesday that he wanted to "set the record straight."

"Throughout this process, I have never offered to sell CNN and have no intention of doing so," he said.

The Department of Justice said it does not comment on pending investigations, but that it was "committed to carrying out its duties in accordance with the laws and the facts."

The companies had been planning to finalize the deal by the end of the year, and just last week AT&T said it was confident it would win approval for the deal since it does not involve direct competitors.

But John Stephens, AT&T's chief financial officer, told a conference with investors in New York earlier Wednesday that the date to finalize the merger was now "uncertain" because of ongoing negotiations with the government authorities.

AT&T announced plans last year to purchase Time Warner to create a juggernaut with more than 142 million mobile subscribers and a major player in pay TV broadcasting via DirecTV.

Time Warner also includes a media group with popular content that includes sports, movies and television series.

Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

att may have to sell cnn to merge with time warner att may have to sell cnn to merge with time warner

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

att may have to sell cnn to merge with time warner att may have to sell cnn to merge with time warner

 



GMT 09:00 2018 Wednesday ,12 December

May tours Europe in desperate bid to save Brexit deal

GMT 13:29 2018 Friday ,14 December

Turkey targets military over alleged Gulen links

GMT 10:03 2018 Monday ,10 December

23 Palestinians arrested in West Bank

GMT 09:12 2018 Wednesday ,12 December

Ford trains 1,600 motorists in Mideast, Africa in 2018

GMT 09:47 2018 Monday ,10 December

Russian ex-policeman convicted over 56 murders

GMT 18:56 2017 Wednesday ,30 August

Premier: BDF model in patriotic work

GMT 12:45 2017 Saturday ,18 March

German steel workers to get 4% wage hike by 2018

GMT 19:03 2017 Monday ,25 September

Demi Lovato to help war-scarred children in Iraq

GMT 18:42 2017 Friday ,24 February

Each governor develops plan

GMT 15:29 2017 Saturday ,17 June

Spain threatens to block Greece bailout payment

GMT 15:19 2017 Saturday ,25 November

UN official lauds UAE's development support in Somalia

GMT 06:40 2017 Saturday ,30 December

Beaten Windies say one bad

GMT 11:15 2017 Friday ,29 December

Interior Minister receives Azerbaijani ambassador

GMT 09:01 2015 Sunday ,30 August

Building block of quantum computers from light

GMT 10:41 2016 Monday ,08 February

Truck maker Volvo offloads costs for big profit rise
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday