AT&T chief executive Randall Stephenson (L) and Time Warner chief executive Jeff Bewkes defend the proposed mega-merger of the companies at a 2016 conference Telecoms giant AT&T is likely to create a separate media division upon completion of its planned merger with Time Warner, the Wall Street Journal reported Friday.
According to the daily, longtime AT&T executive John Stankey would be placed in charge of the Time Warner business while Randall Stephenson, the current chairman and chief executive at AT&T, would keep the title of chairman of the merged entity.
Asked about the report, AT&T said no decisions have been finalized on the management structure of the group after the merger, which remains subject to regulatory approval.
AT&T said Stephenson ”will remain chairman and chief executive officer of AT&T after we close the Time Warner deal.”
The tie-up still faces considerable opposition from some lawmakers and consumer groups, who contend it would give too much control to a single entity in the field of broadband and raise potential conflicts of interest for online services.
President Donald Trump said during his 2016 campaign that he opposed the pending merger, which was announced in October. But he has been mum on it since the election.
Some analysts argue, however, that the deal would create an entity sizeable enough to compete with tech industry giants who are now the ”gatekeepers” for content on the internet, such as Apple, Google, Microsoft, Amazon and Facebook.
Explore further:AT&T-Time Warner deal may have easier path to approval
© 2017 AFP