Deals
AT&T CEO Plans CNN Expansion Despite Trump Animosity for Network
- Trump meeting focused on jobs, taxes -- not merger, CEO says
- Stephenson says DOJ review to show deal is ‘pro-competitive’
AT&T CEO: CNN Is a Good Business, Great Brand
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AT&T Inc. Chief Executive Officer Randall Stephenson said CNN is ripe for expansion into social media and mobile, and he wouldn’t consider a divestiture to win approval of his company’s $85.4 billion merger with Time Warner Inc. despite President-Elect Donald Trump’s problems with the news network.
Trump has said he opposes the deal, and it’s unclear how much of his motivation stems from his animosity for Time Warner-controlled CNN. But Stephenson said the news network is “a great business” and one of the key brands that can help AT&T transition to a media powerhouse, seeking to produce some of the world’s most popular shows and movies.