Time Warner is planning to sell broadcast station WPCH in Atlanta for $70 million to the Meredith Corporation — per an application at the FCC.

Why it matters: This relatively small deal is all about AT&T's proposed $85 billion purchase of Time Warner. By selling the station and its airwave licenses the two companies could avoid an FCC review of the deal, since the agency steps in when licenses change hands. AT&T had already indicated that it didn't expect licenses to transfer as part of the deal, but this is a key step towards potentially avoiding an FCC review.

Latest developments: FCC Chair Ajit Pai decided to comment Thursday on whether he would use the sale as a reason to look over the AT&T deal. "This is news to me, so it will not surprise you if I don't express an opinion about it on the fly," he said.

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Ford names James Farley as new CEO amid ongoing turnaround effort

James Hackett, left, is retiring as Ford CEO. Jim Farley, right, takes over Oct. 1. Photo: Ford

Ford announced Tuesday that James Farley will take over as its next CEO, replacing James Hackett, 65, who is retiring after three years in the job.

Why it matters: It leaves Farley to complete the company's ongoing turnaround effort. The transition will be that much harder as the industry tries to navigate the coronavirus-induced economic slowdown which shuttered Ford plants for two months on the eve of some of its most important vehicle launches.

Updated 2 hours ago - Politics & Policy

Watch the full "Axios on HBO" interview with President Trump

In this episode of “Axios on HBO”, President Trump discusses his handling of the coronavirus pandemic, the upcoming election and much more with National Political Correspondent Jonathan Swan.

The interview was filmed on Tuesday, July 28 and aired Monday, Aug. 3 on HBO.

Mergers and acquisitions make a comeback

Illustration: Sarah Grillo/Axios

A slew of high-profile headlines led by Microsoft's expected acquisition of social media video app TikTok helped bring the Nasdaq to another record high on Monday.

Why it matters: The mergers-and-acquisitions market looks like it's bouncing back, joining the revived credit and equity markets as well as the market for new public companies through IPOs and special purpose acquisition companies (SPACs).