AT&T now expects it will close its controversial merger of WarnerMedia and Discovery by the second quarter of 2022, reported The Dallas Daily News.
New insight into the largest deal looming over the world of entertainment came as AT&T reported its fourth-quarter financial results Wednesday, January 26.
“We’re encouraged with how the process for the WarnerMedia deal is progressing,” AT&T CEO John Stankey said on a call with analysts.
The company had previously stated it expected the transaction to be completed by the middle of 2022, pending any regulatory approval. Dozens of members of Congress sent a letter to the US Department of Justice last month expressing “serious concerns” about the proposed merger of the two entertainment giants.
The concerns center around a potential to harm consumers, workers and racial representation in the media. Stankey called the concerns “unfounded” and said that the company planned to share more details about the structure of the deal.
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