Listen Now: Combining Power
Time Warner and AT&T are one step closer to an eighty five billion dollar marriage.
A federal judge has given the okay for AT&T to take over Time Warner media. That includes CNN, HBO, Warner Brothers and a handful of other successful cable channels. In doing so the judge struck down complaints that the combined company would become an issue for competitors and consumers, saying he failed to see the problem.
However the government, including President Trump, disagrees. While on the campaign trail President Trump voiced his displeasure with the possible partnership saying it would give just two companies too much power. A large part of his concern is because this could give CNN a larger audience which often runs stories that discredit the president and his administration.
This ruling could also disrupt the possible merger between Disney and Twentieth Century Fox with Comcast now making a pitch to enter that playing field. While the government says it will continue working to stop the merger attorneys for both companies say they hope to finalize the deal in the coming days.
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.
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