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US: FCC approves Time Warner station sale, helping AT&T mega-merger

 |  April 17, 2017

The FCC probably will be able to avoid making a judgment on AT&T’s $85 billion agreement to buy Time Warner following its approval today of the entertainment giant’s deal to sell its single TV station, Atlanta’s WPCH, to Meredith for $70 million.

Regulators noted that the application to transfer the license was “granted” but made no additional comment.

FCC Chairman Ajit Pai has said that if AT&T’s deal with Time Warner doesn’t involve a broadcast license, then there would be no reason for his agency to step in.

That could help the dealmakers. The FCC has a broad mandate to determine whether transactions it reviews serve the public. If the FCC is out of the picture, then AT&T and Time Warner simply have to satisfy the Justice Department that their union would not significantly reduce competition.

Full Content: Bloomberg

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