Mexico Approves AT&T Acquisition of Time Warner

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John Stankey

Once the merger closes, John Stankey, the head of AT&T's entertainment group, is expected to run Time Warner, which will be renamed.

The merger of AT&T and Time Warner earned the blessing of Mexican regulators, the telecom giant said Tuesday.

"We appreciate the work of both COFECE [Federal Economic Competition Commission] and IFT [Federal Telecommunications Institute] to review, analyze and approve the AT&T-Time Warner merger on its merits," said AT&T senior executive vp and general counsel David McAtee.

The two companies reiterated their prediction that AT&T's $85.4 billion acquisition of Time Warner would close by the end of the year, though it still faces several hurdles in the U.S. and Bloomberg has reported that Brazilian regulators may object to the deal on competitive concerns, given AT&T owns 93 percent of Sky Brazil.

"The merger of our two companies will bring together the world's best premium content with the networks to deliver that content to every screen, however customers want it," McAtee said.

Once the merger closes, John Stankey, the head of AT&T's entertainment group, is expected to run Time Warner, which will be renamed.

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