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“Time Warner shares declined nearly 7 percent midday Wednesday after AT&T’s chief financial officer John Stephens said the timing of its merger deal close with the company is “now uncertain.”
The Financial Times later reported the Justice Department told AT&T and Time Warner would need to sell CNN, Time Warner’s cable news network, as a condition in order for the acquisition to go through, according to three people with knowledge of the negotiations.
CNBC has confirmed the Justice Department has asked AT&T to sell Turner Broadcasting, which includes CNN, for merger approval.
President Donald Trump has repeatedly criticized CNN as fake news on his social media Twitter account in the past year.”
The LOWE-Down!
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