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AT&T extends the deadline on its $85.4B merger with Time Warner

The telecom giant is still seeking US regulatory approval on its acquisition of Time Warner, which would rank as one of the biggest ever.

Donald Trump Holds Meetings At Trump Tower

AT&T Chief Executive Officer Randall Stephenson on a visit to Trump Tower this past January.

Drew Angerer / Getty Images

AT&T and Time Warner have extended the deadline on their planned merger as the deal remains under review by the US Department of Justice.

The original deadline of Oct. 22 came exactly one year after the $85.4 billion-dollar deal was first announced. Since then, it's faced scrutiny from the US government, including skepticism from then-candidate Donald Trump. In the year since, AT&T's executives have been working to win the Trump administration over and ease public concerns about privacy and the size of the deal.

Last week, with the deal's termination deadline looming, AT&T and Time Warner agreed to move the goalposts "for a short period." The goal at this point is to obtain the final regulatory approval needed to close the merger. AT&T says that it expects that to happen by the end of 2017.

Time Warner's holdings include the film studios Warner Bros. and New Line Cinema, as well as CNN and HBO. Should AT&T seal the deal, it would rank as one of the biggest acquisitions of all time.