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