FCC approves Time Warner station sale, easing AT&T buyout

|By:, SA News Editor

The approval of the sale of Time Warner's (TWX +0.5%) only TV station marks another step clearing the way for AT&T's (T +0.2%) proposed $85B buyout of the content powerhouse.

The FCC has signed off on the sale of Atlanta station WPCH to Meredith (MDP +0.2%) -- which in turn removes the key reason why that agency might want to examine AT&T's acquisition overall.

That leaves a smaller hurdle in an antitrust review by the Dept. of Justice, though the potential opposition of President Trump (who had said during the presidential campaign that he opposed the deal) still remains a wild card.