AT&T says the FCC doesn’t need to review its Time Warner acquisition

AT&T is trying to ease its way out of scrutiny by the Federal Communications Commission over the wireless and TV giant's $85 billion acquisition of Time Warner. Telecommunication regulators shouldn't need to analyze the deal because it will be beyond their jurisdiction, AT&T signaled in a filing Jan 5 to the Securities and Exchange Commission. By potentially eliminating a layer of oversight, the claim could accelerate the merger's approval in Washington, where federal antitrust officials are also expected to review the proposed purchase.

AT&T, which became the nation's largest pay-TV provider when it acquired DirecTV in 2016, is gunning for Time Warner's massive library of content and intellectual property, which it hopes to distribute and sell advertising against. In its SEC filing, AT&T said it has concluded that no licenses will be transferred. (In addition, Time Warner could seek to spin off its FCC licenses so that they are not a part of the deal, analysts have said.)