AT&T could sell CNN to gain DOJ approval of Time Warner deal
The AT&T Time Warner merger is experiencing an unexpected and potentially major road block.
The US Department of Justice is reportedly demanding the telecom giant sell off the CNN portion of Time Warner in order for the deal to be approved.
According to sources close to the talks the Justice Department believes the sale would satisfy anti-trust concerns regarding the mega merger.
Other television properties and Direct TV are also part of the demand according to a tweet from NPR.
Shares of TimeWarrner and AT&T as news of the demand leaked and AT&T says it's uncertain whether the deal can be closed even though it previously hoped the acquisition would be done by the end of 2017.
This is an $85.4 billion deal, which is probably why sources are saying AT&T is likely not going to go down without a fight.
So where did this seemingly unexpected demand come from?
America, the calls are coming from inside the house And by house, I mean White House.
US president, Donald Trump, has frequently criticized CNN in the past, and also pledged to block the deal during his 2016 presidential campaign.
It remains to be seen how AT&T will officially respond to this Department of Justice divestment demand.
We'll be keeping a close eye on this story as it develops.
What do you think AT&T should do?
Or maybe you think this deal shouldn't go through at all.
Leave your opinions down in the comments and stay tuned to CNET.
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I'm Ashley Esqueda.
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