AT&T CEO Stephenson meets with Trump to discuss the company's proposed purchase of Time

AT&T CEO Stephenson meets with Trump to discuss the company's proposed purchase of Time
Back in October, AT&T announced that it would buy Time for $85.4 billion. But almost immediately, then presidential candidate Donald Trump took to his Twitter account to say that the deal results in "...too much concentration of power in the hands of too few." Trump went on to add that as president, he would block the deal. As you know, Trump shocked the world with his Electoral College victory over Hillary Clinton; that means AT&T's purchase of Time is in jeopardy of being blocked by U.S. regulatory agencies. 

AT&T wants to make more content available to its subscribers by purchasing Time. Hoping to persuade the President-elect to reconsider the transaction, AT&T CEO Randall Stephenson is apparently meeting today with Trump. The AT&T executive was spotted inside Trump Towers and a spokesman for Trump confirmed that the two will meet today.

The Presodent-elect is still against the deal according to a source inside the transition team. Besides needing the Justice Department and the FCC to sign off on the transaction, Time stockholders also must approve the deal. A vote will take place on February 15th.

Among the properties that AT&T will own if it closes on the transaction are Warner Brothers Studio, HBO, TNT, TBS, CNN and 10% of streaming video company Hulu. Last year, AT&T purchased television content provider DirecTV for $48.5 billion.

source: Reuters

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25 Comments

1. DGxumbreo7

Posts: 63; Member since: Nov 27, 2016

"Among the properties that AT&T will own if it closes on the transaction are Warner Brothers Studio, HBO, TNT, TBS, CNN and 10% of streaming video company Hulu. Last year, AT&T purchased television content provider DirecTV for $48.5 billion."

17. tedkord

Posts: 17357; Member since: Jun 17, 2009

Warner Bros. Studio? I don't want the death star owning Batman movies.

18. bossman

Posts: 264; Member since: Jan 27, 2016

Well, they'll probably make those channels directv exclusives and force people to switch to directv if they want those channels.

2. DGxumbreo7

Posts: 63; Member since: Nov 27, 2016

Trump dont be a hoe

3. mikehunta727 unregistered

#goldenshowerTrump

4. Klinton

Posts: 1409; Member since: Oct 24, 2016

Yup:) This time as we saw, the 'kompromatt' against Trump didn't come from Russia, as was expected, but from US!!! WTF?

8. mikehunta727 unregistered

It came from a former MI-6 agent, months before that "4chan" comments the Trump supporters keep linking. It is still unverified at this time but I dont doubt it at all. Much more believable then Obama being muslim/born in Kenya/pizzagate, etc. This same guy also broke information on the heavy corruption in FIFA which was proven to be true

9. mikehunta727 unregistered

The dude likes seeing girls giving golden showers to each other on a bed

12. Klinton

Posts: 1409; Member since: Oct 24, 2016

You are confused with, who collect ''information'' false or not, and who use it to attack the opponents. And yes, the 'kompromatt' against Trump didn't come from Russia, as was expected, but from US!!! WTF? Same agency that pretend now, that protect him from it? You are example that they did good job. LOL

16. tedkord

Posts: 17357; Member since: Jun 17, 2009

No, as explained already, it came from a former MI6 agent. Using false information to attack enemies was pretty much Trump's entire campaign.

25. TerryTerius unregistered

That's exactly why his outrage now is hilarious. You reap what you sow.

20. mikehunta727 unregistered

IC didn't leak it, former MI-6 agent did.. There is something eerily off with Trump when it comes to Russia... We dont know how deep his ties go, in 2013 he admitted he has a relationship with Putin and this year he said "he never met Putin" Him and Rex Tillerson and this corrupt ass Trump adminstration who has ties to Russia far deeper then anyone could have imagined. Doesn't release his tax returns, never says nothing bad about Russia, praises war criminal Putin who is a big part of the slaughter that has occurred in Aleppo, etc Lets hope there are much more deeper investigations into Trump and his administrations true ties to Russia. Got to stop this treasonous tool and his incompetent administration that is going to ruin America Donald Trump false misinformation tactic not gonna work here, dude said James Clapper called him to say the information is wrong and misleading, LIE, All Clapper said was that the Intelligence Commitee did not leak this info, that was it. Reeks of suspicion to anyone with half a brain in their skull

14. Jeradiah3

Posts: 1149; Member since: Feb 11, 2010

*In my Riley Freeman voice* "Did you wash yo hands?" LMAO

5. Khyron

Posts: 397; Member since: Sep 28, 2015

This del will not affects phonearena.com owned by apple

6. Khyron

Posts: 397; Member since: Sep 28, 2015

This del will not affects phonearena.com owned by apple

7. Dr.Phil

Posts: 2362; Member since: Feb 14, 2011

On the one hand, this is something that can be seen as monopolistic in nature and a corporation holding too much power over not just media channels but how people obtain their media (AT&T would now have control over contracts that go to other cable providers). AT&T could also potentially hold power to put commercials on those networks without any real cost (or even have AT&T phones be used on certain episodes of your favorite TV show). On the other hand, this could drive competition and bring down costs if AT&T is able to, through DirecTV, offer more channels at a lower price to consumers. But, then again, it's AT&T. When was the last time they brought down costs for consumers?

10. tedkord

Posts: 17357; Member since: Jun 17, 2009

It doesn't matter if it's AT&T, Verizon or any company. To much control in an industry focused in any one corporation will lead to decreased competition, and fewer choices for consumers (and higher prices ultimately, though corporations often initially drop prices slightly to push a deal through.

11. tedkord

Posts: 17357; Member since: Jun 17, 2009

So he needs to do is praise Trump, and he can get whatever he wants. His other option is to ask Putin to order Trump to do it.

13. Macready

Posts: 1821; Member since: Dec 08, 2014

".too much concentration of power in the hands of too few" From Trump... the irony.

15. p51d007

Posts: 704; Member since: Nov 24, 2013

At&t was broken up into the baby bells in the early 80's. It's taken over 30 years, for "MaBell" to reconstitute itself. I think it's time to break them up again.

19. fatTony

Posts: 115; Member since: Dec 20, 2012

Something doesn't seem right about this. So if I'm a large company attempting to buy another but facing regulatory challenge, all I have to do is meet with who's in the White House and suck up to them? Pandora's box

21. tedkord

Posts: 17357; Member since: Jun 17, 2009

This will be the most corrupt administration in modern history, hands down.

22. QWIKSTRIKE

Posts: 1459; Member since: Mar 09, 2010

What's a Presodent elect...sb president elect yes!

23. belovedson

Posts: 1061; Member since: Nov 30, 2010

AT&T you don't need to own something to use it. I believe you can lease or even form a partnership.. It's so clear AT&T is attempting to form a monopoly again.....something they promised wouldn't happen after being split into different companies.

24. llk171

Posts: 95; Member since: Mar 31, 2013

This guy just looks like a tool.

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