Time Warner shareholders approve merger deal with AT&T Trump no longer opposes

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On February 16, Time Warner shareholders voted 99% to approve the US$85.4 billion merger transaction proposed by AT&T Inc. Time Warner still expects the transaction to be completed before the end of 2017.

on Feb. 16, time Warner (Time Warner) shareholders voted 99% to approve AT&T Inc's proposed $85.4 billion merger deal, which time Warner still expects to close by the end of 2017.

original title: time Warner shareholders approve a $85.4 billion merger with AT&T

February 16, time Warner (Time Warner) shareholders voted 99% to approve AT&T Inc's proposed $85.4 billion merger, which time Warner still expects to be completed by the end of 2017.

it is reported that time Warner held a shareholders' meeting in Atlanta on February 15, and shareholders with 78.8% of the shares voted in favor of the merger, which made AT&T a big step forward in the process of acquiring time Warner.

meanwhile, AT&T Chairman Randall Stephenson revealed that he had two "intimate talks" with President Trump in January, neither of which discussed mergers and acquisitions, implying that the new Trump administration did not object to the acquisition. Earlier in the presidential election, Trump repeatedly opposed approving the merger, arguing that it would give AT&T too much media power and hurt market competition.

under this positive signal, the US Justice Department is also expected to speed up the pace of review, which will be approved by the end of this year.

time Warner CEO Jeff Bewkes believes that today's media market is developing rapidly, just doing content can no longer meet the market demand, and providing a better user experience is the development direction. Teaming up with AT&T will "significantly enhance time Warner's ability to provide a user experience" and allow more money to be invested in content production.

Jeff Bewkes also made special reference to the film Dunkirk directed by Christopher Nolan. "We hope this film will be the last work before the merger is completed." Dunkirk will be released in the United States on July 21.

in October 2016, US telecom operator AT&T announced that it would buy time Warner, the US entertainment and media giant, for $85.4 billion (577.765 billion yuan). The acquisition will be half cash plus half equity, at $107.50 a share.

once the acquisition is completed, AT&T, the original wireless network provider, will become a new media empire, with not only millions of wireless and pay-TV subscribers, but also golden media resources owned by time Warner, including CNN, TNT, HBO, Warner Bros. Pictures and television studios. With the saturation of AT&T 's core wireless network business, the acquisition has found new areas of growth for the company. The acquisition comes at a time when media companies are under pressure to transform, and companies, including time Warner, are facing a dilemma of merging pay-TV publishers and viewers are starting to abandon expensive TV packages for cheaper online streaming services.

Yien is sorted out and released according to Mtime and DoNews related reports.

Edit: nancy