AT&T faces a Trumpworld reality check

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The ouster of AT&T's top lobbyist caught D.C. telecom insiders by surprise and underscored that even the most well-oiled Washington machine isn't immune to inadvertent entanglement with Trumpworld scandal.

Why it matters: News that AT&T paid Trump lawyer Michael Cohen for "insights" about the administration couldn’t have come at worse time for the company, which just wrapped its trial against the Justice Department over its $85 billion bid for Time Warner. Judge Richard Leon is in the midst of finalizing his decision, expected to come on June 12.