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AT&T/Time Warner merger hopes dim after Trump win

Wednesday, November 9, 2016 9:17
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Time Warner (NYSE:TWX/Time-Warner-Inc/” class=”companyPopupTrigger” rel=”6977″>NYSE:TWX) shares eased lower as speculators bet it may be an early casualty of Donald Trump’s presidential victory.

Telecoms giant AT&T (NYSE:T) agreed to buy the media company for US$85.4bn last month, but the deal was fiercely criticised by Trump during his campaign.

He said he would never approve the deal if he became president because it “concentrates too much power in the hands of too few.”

Time Warner’s CNN network has also been targeted by Trump for its alleged bias during the president-elect’s campaign.

His campaign also included criticism of the trend for mega–mergers and the amount of cash held by US companies overseas to take advantage of lower tax rates.

Trump has also called for a break-up of media gaint NBC and Comcast, which merged in 2013, and his election may halt the recent spate of media mega-mergers suggested analysts.

Shares in Time Warner eased 1.6% to US$86.51.

Story by ProactiveInvestors


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