Trump’s new telecom advisers are a good sign for the AT&T and Time Warner deal, despite his threats against the merger
While the president-elect railed against companies like NBCUniversal and Amazon for being too big and threatened antitrust action during his campaign, the advisers President-elect Trump named to help oversee his Federal Communications Commission and Justice Department transitions have a history of being very pro-industry and anti-regulation, particularly when it comes to mergers.
That’s good news for AT&T’s $85 billion bid for Time Warner, despite what President-elect Trump said on the campaign trail. The merger is currently under review by antitrust regulators at the Justice Department, where a decision will probably not be reached until President Trump is in office. Jeff Eisenach, who President-elect Trump officially named to help transition the FCC, has supported major media mergers proposed in recent years. When Comcast was considering a Time Warner takeover in 2013, Eisenach wrote, “The best thing that could happen for U.S. consumers would be substantial consolidation in the cable business.” And when AT&T wanted to purchase T-Mobile in 2011, Eisenach likewise argued in favor of the merger, pointing out, "The wireless market is extremely competitive.” Mark Jamison, the person Trump named to help with the FCC transition, also argued in favor of the AT&T and T-Mobile merger. Of Trump’s three new advisers for the transition of the Justice Department — J. Patrick Rowan, Jessie Liu and Ronald Tenpas — none specialize in mergers and acquisitions, but all three have extensive experience in helping large, private companies navigate the US regulatory landscape. Rowan has helped counsel at least one sale of a US telecom company to a foreign buyer.