Enlarge / AT&T will own a bunch of new media properties if it is allowed to buy Time Warner. (credit: Aurich Lawson)
The Federal Communications Commission has helped clear the path for AT&T to buy Time Warner Inc. without a lengthy public-interest review.
The FCC conducts public-interest reviews of mergers when FCC licenses are transferred, but AT&T and Time Warner have been trying to structure their $85.4 billion deal to avoid direct transfer of any licenses. That means Time Warner has to get rid of its FCC licenses, including one for a TV station in Atlanta, before it’s swallowed up by AT&T.
The FCC helped Time Warner achieve that this week by approving a sale of its WPCH-TV license in Atlanta for $70 million to Meredith Corp., which was already operating the station for Time Warner under a separate agreement.
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Source: Ars Technica – AT&T/Time Warner merger is one step closer to government approval