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Time Warner chief confident in approval of AT&T buyout

Published 06/01/2017, 12:43 PM
© Reuters.  Time Warner chief confident in approval of AT&T buyout
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  • Then-candidate Donald Trump spent a good chunk of his presidential campaign suggesting he'd block AT&T's (T +0.5%) $85B takeover of Time Warner (TWX +0.1%), but Warner chief Jeff Bewkes is unconcerned now.
  • Speaking at Code Conference, Bewkes said “I don’t think who’s occupying the White House changes things ... We’re not particularly thinking that’s a significant fact. DOJ has a pretty clear set of precedents and laws to follow.”
  • Bewkes and AT&T CEO Randall Stephenson have spent a lot of their public commentary arguing that the merger is a vertical merger that the government shouldn't have a problem with.
  • The two leaders appeared before a Senate committee together last year to respond to concerns, at which Stephenson said “We believe the benefits are straightforward and they’re substantial.”
  • Now read: AT&T's Acquisition Has No Effect On The Safety Of The Dividends


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