Currently, the deal has been gaining approvals around the world but in the United States, the deal has been held up in a lengthy federal approval process.
The deal was first announced on October 22, 2016, with a termination date of October 22, 2017, if the deal did not get approval. (Most major deals have an out if they do not get federal approval.) Now AT&T has pushed the deadline for approval out to April 22, 2018.
“We appreciate the hard work by CADE to review and evaluate the AT&T-Time Warner merger and approve it based on its benefits to Brazilian consumers,” said AT&T Senior Executive Vice President and General Counsel David McAtee in a statement to MultiChannel.com.
As cord cutting and other pressures continue to take a bite out of traditional pay-TV services, AT&T seems to see Time Warner and their catalog of shows, movies, and networks as a way to diversify its business. The question now is if and when they will get approval.
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