4. Risk Factors
President Trump's escalating feud with CNN may bleed into the regulatory review of AT&T's proposed $85 billion merger with Time Warner, per The New York Times:
"White House advisers have discussed a potential point of leverage over their adversary, a senior administration official said: a pending merger between CNN's parent company, Time Warner, and AT&T. Mr. Trump's Justice Department will decide whether to approve the merger, and while analysts say there is little to stop the deal from moving forward, the president's animus toward CNN remains a wild card."
Flashback: Trump signaled his opposition to the deal with it was first announced, and reiterated it in a January interview with Axios (although he also admitted: "I haven't seen any of the facts yet").
Why it matters: There could be a chilling effect on M&A activity if it was believed that DoJ would block a merger — or require applicants make certain concessions — due to a political beef between an applicant and the White House. It also would be sure to spark legal challenges.