Time Warner may sell some properties in order to bypass regulators for AT&T's $85.4 billion deal to purchase the broadcast giant. Diane Hodges reports.
AT&T's proposal to buy Time Warner would give the telecommunications company content to stream over its high-speed network and attract a growing number of online viewers.. Last year, AT&T bought DirecTV. This deal would also give it cable TV channels HBO and CNN, film studio Warner Bros and other coveted media assets. But the deal is expected to face tough scrutiny from the FCC, which can block any deal it decides is not in the "public interest". AT&T has repeatedly clashed with the FCC over the past several years. Just last year, the FCC proposed fining AT&T's Mobility unit $100 million for misleading customers about its unlimited mobile data plans. However, the FCC has taken no further action to enforce the proposed fine. In addition to the FCC, the purchase will also be reviewed by the Department of Justice. A U.S. Senate antitrust committee plans to hold a hearing on the new deal in November.