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>> The AT&T Time Warner $85 billion mega merger is having trouble connecting with regulators in Washington, putting the entire deal in jeopardy. In order to get the deal approved, sources close to the matter telling Reuters Wednesday, the two may have to give up at least one of their crown jewels.
Reuters Washington correspondent David Shepherdson.>> The Justice Department has informed AT&T that they can either sell Direct TV or divest themselves of assets including CNN as part of the Turner Broadcasting unit.>> Before he was President, then candidate Donald Trump railed against the deal.>> Too much concentration of power in the hands of too few.
>> Which involves the cable network he loves to hate, CNN. But selling off either asset is a no go in AT&T's eyes.>> Right now, AT&T's position in these talks has been pretty strong. This is a vertical merger, other mergers, similar mergers like Comcast, NBC, Universal were approved without any divestitures.
Right now, the company has taken a very firm position saying no, we're not going to divest of any these assets.>> Especially given the rational for the marriage in the first place.>> That AT&T can leverage content distribution with this vertical integration, better target advertising and to compete with Facebook and Google.
>> And at the same time, make content from Time Warner properties like CNN, HBO, and Warner Brothers Studios more accessible to those who prefer cheap Netflix plans compared to costly pay TV packages. The fight between AT&T and Time Warner versus the Justice Department is certain to head to court.