AT&T is on track to close its $85 billion merger with Time Warner by the end of the year, says CEO Randall Stephenson. He noted that the Department of Justice's "one-track review" is "at pace" to finish in time.
If the acquisition successfully closes, AT&T will gain HBO, CNN, Warner Bros, and other top media assets.
President Trump opposed the deal prior to his election. It's unclear if that could have any impact on the deal. Stephenson says he's spoken with Trump twice, but never about the deal.
The media and entertainment industry is going to look exactly as it does today, so it is a clean transaction and we feel good about it. - Stephenson