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AT&T CEO : 'I Have Never Been Told Price of Getting Deal Done Was Selling CNN'

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11/09/2017 | 08:17pm CEST
By Drew FitzGerald 

AT&T Inc.'s chief executive said Thursday he is prepared to go to court to defend the telecom giant's proposed takeover of Time Warner Inc. if settlement discussions with antitrust regulators fail.

"We are prepared to litigate now" if the companies can't reach a negotiated settlement with the Justice Department, AT&T CEO Randall Stephenson said at an industry conference Thursday.

Mr. Stephenson said the company would continue to pursue a settlement but was prepared to litigate if it determined that the conditions of such a deal were worse than the outcome of a courtroom fight.

If it did end up in court, he said he was confident in the company's legal position and that the litigation could be concluded by April 22, a deadline the merger partners put on the transaction.

Mr. Stephenson said he doesn't plan on selling CNN and that no one in the Justice Department had made that a condition of approving the deal.

"I have never been told that the price of getting deal done was selling CNN," Mr. Stephenson said. "I have never offered to sell and have no intentions to sell CNN."

Write to Drew FitzGerald at [email protected]

Stocks mentioned in the article
ChangeLast1st jan.
TIME WARNER -0.35% 96.24 Delayed Quote.5.21%
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Financials ($)
Sales 2018 160 B
EBIT 2018 30 697 M
Net income 2018 17 321 M
Debt 2018 107 B
Yield 2018 5,78%
P/E ratio 2018 12,24
P/E ratio 2019 11,94
EV / Sales 2018 2,00x
EV / Sales 2019 1,96x
Capitalization 213 B
Chart AT&T
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AT&T Technical Analysis Chart | T | US00206R1023 | 4-Traders
Technical analysis trends AT&T
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TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 40,1 $
Spread / Average Target 16%
EPS Revisions
Managers
NameTitle
Randall L. Stephenson Chairman, President & Chief Executive Officer
John J. Stephens CFO, Principal Accounting Officer & Senior EVP
Joyce M. Roché Independent Director
Laura D'Andrea Tyson Independent Director
Matthew K. Rose Lead Independent Director
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