The proposed merger of AT&T with Time Warner has remained the top priority for Thursday’s meeting between the President-elect Donald Trump and AT&T CEO Randall Stephenson. However, the meeting ended without any discussion on the company’s proposed merger.
The telecom company released a statement after the conclusion of the meeting saying, “Mr. Stephenson had a very good meeting with President-Elect Trump earlier today covering a wide-range of topics. AT&T’s proposed merger with Time Warner was not a topic of discussion.”
Meanwhile, the statement also contained remarks on other aspects that the company could excel by working with the Trump Administration. It said, “The conversation focused on how AT&T can work with the Trump administration to increase investment in the U.S., stimulate job creation in America, and make American companies more competitive globally.”
Experts believe that successful implementation of this is possible, as AT&T has a record in capital spending, which surpassed Verizon’s $16.5 billion spending with its $18.7 billion in 2015. This has also earned AT&T a top position in the Progressive Policy Institute’s list of investment heroes in the US.
It is to be noted that AT&T’s proposed $85.4 billion acquisition of Time Warner got a lot of criticism from Trump during his early campaign. He feared that it would give immense power to the company and rejected the notion completely. This issue was also raised in the Senate hearing last month that showed how AT&T could opt for favoring of its own content like CNN, HBO, and Warner Bros.
Insiders say that Trump’s severing relation with CNN has also played a role in delaying the merger between the two companies. The news organization has taken intense scorn from the President-elect, particularly on the recent allegations levied against Trump regarding his election victory attributed to external elements.
Recent accusations by Washington on the Russian tampering of the elections also caught the attention of the media for a while. The intelligence agencies also warned that Russian operatives might have compromising personal and financial information about Trump. However, the President-elect made it a fake news by refusing to answer the queries from the CNN channel’s anchor Jim Acosta.
As for AT&T, the Telco is the largest internet and cable provider in the US with almost 25.3 million subscribers, and has dominated the business for quite some time now. All the reputation of AT&T still offers some amount of optimism regarding the deal.