Donald Trump’s dislike for CNN could have major consequences that go beyond internet memes and social-media rants. As reported by The New York Times, President Trump’s ongoing conflict with CNN could have detrimental effects on the network’s parent company Time Warner Inc’s (NYSE:$TWX) $85 billion merger with AT&T Inc (NYSE:$T).
While the Department of Justice (DOJ) is discussing the merger (this is the only federal agency reviewing the deal), Trump’s disdain for CNN is thought of as a “wild card” in the White House.
As of right now, it’s unclear as to whether Trump will try to influence the DOJ’s review of the deal, but advisors of the White House have reportedly called it a “potential point of leverage.”
According to Jeff Zucker, the President of CNN, the merger is not something that he considers journalistically or in his daily management decisions. “It’s not something I think about,” Zucker said.
On Thursday, in a morning trading session, AT&T’s shares dropped 1.4% to $37.58, while Time Warner’s shares fell 0.1% to $101.31.
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