Trump meets with AT&T chief amid his battle with CNN and opposition to Time Warner deal

Donald Trump met Thursday with the chief executive of AT&T Inc. amid the president-elect’s outspoken opposition to the telecom giant’s proposed $85.4-billion purchase of Time Warner Inc. and a flare-up in his long-running battle with the media company’s CNN outlet.

Randall Stephenson met with Trump at Trump Tower in New York, according to transition spokesman Sean Spicer.

In a conference call with reporters, Spicer did not provide any details about the meeting and would not comment on whether Trump remained opposed to the deal. 

Noting that Trump has met with numerous corporate chief executives in recent weeks, Spicer said the president-elect’s “primary focus is how companies can continue to create jobs, lift up wages” and identify policies and regulations ”standing in the way” of job and economic growth. 

AT&T spokesman Michael Balmoris said the Time Warner deal was not discussed in what he described as “a very good meeting … covering a wide range of topics.”

Balmoris 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."

Trump said in October that his administration would not approve the deal “because it’s too much concentration of power in the hands of too few.” He specifically singled out Time Warner’s CNN, which he has accused of being biased against him.

Trump hasn’t spoken about the deal since the election, but his ongoing battle with CNN flared anew this week with the cable news network’s reporting on allegations that Russia gathered compromising information on Trump.

Trump has denied the allegations and accused CNN of trafficking in fake news. He had a confrontation with CNN reporter Jim Acosta at a Wednesday news conference and blasted the network again Thursday via Twitter.

Analysts have said Trump’s election reduced the odds of antitrust approval for the deal. The Justice Department is reviewing the merger and could sue to block it. 

AT&T indicated in a securities filing last week that the deal would not need approval from the Federal Communications Commission because “it is currently anticipated that Time Warner will not need to transfer any of its FCC licenses to AT&T.”

Time Warner’s stock has risen steadily since the election — up more than 8% since Nov. 9 — reflecting Wall Street’s sentiment that Trump’s vow to be more business-friendly bodes well for approval of the AT&T deal.

It’s unknown if Trump’s dismay over CNN’s reporting could factor in to the government’s review of the deal.

A person close to one of the companies who was not authorized to discuss the matter said Trump’s opinions on CNN were something of a wild card but the government would have to make its case that the deal was denied on antitrust grounds and not because the president didn’t like unflattering news coverage.

Time Warner CEO Jeff Bewkes has told Congress that the company’s corporate leaders take a hands-off approach to CNN and its reporting, and that would still be the case should AT&T’s takeover be approved. 

Sen. Jeff Sessions (R-Ala.), Trump’s pick for attorney general, said at his confirmation hearing this week that he would not have a problem blocking mergers. He was not specifically asked about the AT&T-Time Warner deal.

“I have no hesitation to enforce antitrust law,” Sessions told members of the Senate Judiciary Committee on Tuesday.

“I have no hesitation, if the finding justifies it, to say that certain mergers should not occur, and there will not be political influence in that process,” he said.

[email protected]

Follow @JimPuzzanghera on Twitter

ALSO

Best advice for Lockheed on the F-35? 'Make Trump look big'

Treasury nominee Steven Mnuchin discloses his financial holdings

Trump says he'll turn over his company to his sons, but ethics questions persist

UPDATES:

12:20 p.m.: This article was updated with additional comment from Trump transition spokesman Sean Spicer and from AT&T spokesman Michael Balmoris and a person close to one of the companies. 

This article originally was published at 8:30 a.m.