Thread regarding AT&T layoffs

Pinnochio did it again

The CEO of AT&T said he feels no pressure nor has any intention of selling CNN or any more valuable asset in order to close its $85.4 billion deal with Time Warner.

“No. I have never been told that the price of getting the [Time Warner] deal done was selling CNN," said AT&T CEO Randall Stephenson.

The high-stakes acquisition is being held up by the Department of Justice, which has raised red flags for some after President Donald Trump campaigned on blocking the deal because it put too much "power in the hands of too few." The deal would include CNN, a constant target for criticism for the president who has regularly blasted the news company for "fake news."

"Are we really going to make the [Justice Department] use antitrust law to force the sale of a cable channel because the president doesn't like its news coverage?" tweeted Jessica Rosenworcel, a Democratic member of the Federal Communications Commission. "You can dislike consolidation but still find this extremely disturbing if true."

In a statement to ABC News, Department of Justice's new antitrust chief, Makan Delrahim, said, “I have never been instructed by the White House on this or any other transaction under review by the antitrust division.”

The delay in closing may be the real killer of the deal.

This deal is almost certainly dead now that CNN is out.

Very interesting development, isn't it? Had a friend email me about this last night. Of course they had to throw in a few jabs as well. "AT&T should sell all Turner broadcasting affiliates." Why I asked? My internet from AT&T is as consistent as CNN. What? Yes. He trashed his very unreliable service that never delivers what they promise. " the speed is never what I pay for" (CNN) " Every time I call customer care, a person who can barley speak English answers." (CNN) I found the exchange very interesting. I came back with: but my stock price? Thanks Randall! Another dud.

Another Randall Stephenson train wreck..... remember the 4 BILLION lost in the t-mobile debacle a few years ago..... Randall said the company will be all about media content.... that means, if anything needs to be sold, as it appears the gov will require, DTV is out the door. DTV does NOT own any content, they just license it.... DTV is just a conduit. DTVnow is just another software commodity.... AT&T is DESPERATE for revenue since all areas of the business are shrinking... Media content is the only thing that is not a commodity..... Randall's track record s---s from all market view points. Stock down. $4B lost on tmobile... what the hell is the board thinking??????????

Great...waste more money so more people can be laid off.

The article says that the U.S. Dept. of Justice will only approve AT&T's acquisition of Time Warner, if AT&T sells CNN.

The article goes on to say that AT&T will fight this in court.