- Time Warner (NYSE:TWX) jumped from negative to positive, up 0.8%, after FCC Chairman Ajit Pai has said he doesn't see a role for his agency in reviewing Time Warner's takeover by AT&T (T -1.1%).
- Speaking in Barcelona at MWC, Pai says his understanding is that no airwaves licenses will be transferred and thus no reason for the FCC to look at the deal.
- An FCC review has been considered a larger hurdle, since the Justice Dept. review focuses on antitrust issues and the FCC has a broader mandate to ensure deals are in the public interest.
- Last week, Time Warner moved to sell the former WTBS in Atlanta in order to ease the deal and work to dodge an FCC review.
- Previously: Time Warner to sell Atlanta station to ease AT&T buyout (Feb. 23 2017)