CNN might have to be sold for the AT&T/Time Warner deal to go throughOn November 8, 2017 by Maybell
When AT&T agreed to buy Time Warner for $85 billion, the deal immediately encountered skepticism.
These kinds of mega mergers tend to face a lot of government scrutiny. Even if they’re approved, they usually come with strings attached.
On Wednesday, the Financial Times reported that the U.S. government’s regulators have a big demand: Sell CNN.
It’s a big ask, but not entirely surprising. CNN is a major force in U.S. news, a very profitable company, and a favorite target of President Donald Trump. Forcing CNN to be sold would theoretically reduce the amount of power AT&T would accrue in acquiring Time Warner, which also owns HBO, TNT, TBS, and Warner Bros. studio.
The FT reported that AT&T doesn’t want to sell CNN and is willing to go to court over the matter.
This story is developing.