Time Warner CEO says Only AT&T Approached With Offer

JFIF;CREATOR: gd-jpeg v1.0 (using IJG JPEG v62), quality = 80 C   %# , #&')*)-0-(0%()(C   ((((((((((((((((((((((((((((((((((((((((((((((((((( " }!1AQa"q2#BR$3br %&'()*456789:CDEFGHIJSTUVWXYZcdefghijstuvwxyz w!1AQaq"2B #3Rbr $4%&'()*56789:CDEFGHIJSTUVWXYZcdefghijstuvwxyz ?y(Z;@GjQHF9/bG(4cj\P ގhǭch#QK&(7/sAzSi:ҁAA(1K@iiq҅tž|N*pn$c5> &b~'T$Z=hW <l]9;u΅[E=wSh^gȸ!5g>iwϢOi'dxYٵ B=4ɕ6Hph4~tb1֎M8Jh>uь~v844u9(ZP)q@ DȤJ1Y1)1VbRe!~mo5Jq5fa-^pid5n<ҭ(\c#Riŀ9]FhWq8@P(M3XJuVZ󞕜ќ*ȺRiqM1@җ 4~PE/nI\G!4&sE)=(4Q8JZJAAvXZQ8#ޮ' Ln8n鿝2nh1w/pi{jMJ8~ JΌ0з=2 p)u(;(A@wڗ(<bJ:P !@:w43ϵ.hP)3ҁ@ E&)G@ \RfSޓ4 _ZNJtSKڐQހ-gڀQޝ/藺Bew$րJFy_e[̧  <gM"āo#?~{W[4б*ͨȣϺ#?_EƱ(E 1ıAG *"SEfXqF)-ΟGc|׺[b,m=^:TAu}RXmcXW tZzft`G 'U_Xt_qE8 lGjCRw<o֓41@wtc=i@ Birrh#=*6TQғR8p(&xjLr8>4vSM)cG֌ў3H}ZtGnSOz2hOz ; Wg֦ ?⁢)QRjq{ҞJOzAEam0g:5~ 2gH`zTd '8DAKHE0Gjqz4t1 &84vjP;P!1E/B~I<|isz>Fbj0p͟C;KQkKkhB(PfxcDEX ;s#5?u-W>(J5A}>)s1?_UKTX#m8^q@\23Lɠdqp( "ej=1Q@ҙУ4qJzNLbSNӚGjA@zQq@yϵ cӧ M&3IJ@4JOZi) |/^*cUA\ bdw N_<Hh1;\ OaKRj;aKZ@hco"9Ҷ G{eHO=M9rx◭!Kڂ@4}iOgG444pH}sǵ.M! }h:fwQހ٤&!xNhǽ!}:pih(:Ps@H`GN=(昀dA_ZJ1_•GOz>xxq {~'W! _8Ǡl ]:ݒ9Uc@%9ۅ74 yQkS=_+ڸiTmo2r>溫e4kwmN+ק5t^@~ C?Ϣk͡N)!FzW*i'U#~AJ/o*SXwZqqߥe\]?n=z|=c#Dfl~atu5"tIWhl}O^585դ7#NHH֨;E)֔s@ ӻN3xқqNhvH#p":P6xڔG*NOJlPdeG V.)]?AM<>Z}(QцTP:R1ro`޴cUTlAj52Ե1T1XzsKuz[85yssEWw|VEV'yVq3lVq{-ɩaҠ82Mi@bg{€zsJzq@Az=.䎧4=NiYr)S 3CqI҂M!֔R Q4( qړ<@M!4hyA(yxiA@z@:ќf9-LQCN) @:V5nN>eO+9}gm)o&z?0+SS*X,cQ8W׫n 'm͟4(Ě82V5OAK]Fm.ɫaĎg85e4Ɏ2Tf-?dr~i~!yn++^= 6E*Ep'gu(;j7Nm H({M[Pb3ا;O˨`ֽĢJ;V~ؽҦ/;AךMj{T_WM.ku;.f?3zJi`ёHcJ7ou@ w9]F\SՏ##ԕIbox$bhOI1Pg=b'ZI]mY9=G9KEY[8TN|֕OChj; .D[FOё,rO5s ")P\UNp2h-$P=yyɨ)(i;(hPhjƒ%*}8ÜPR-H/S/J=EIM.r8)_zzlxPgԠ!Phy(J1G9{f'I׽((GsEF(iÎc9. Y>Q ^+m`6FE$(zy^VԶy%-{R,Ь0ea>8zqۤ^+M#yZaw;b"(: nćO.qp}WhhRV\ => ybp?Jյm-@ E>JΦ*OMҧE :Z;[kaE_EenxZޖm!S6uKK>2 Ӄk;qr>s9/>s>zɒ@U>^L&V8wEX,Nש##N]^(7N8zXڴpT#ˣVultӬžen\֕)RUf-0;C4XD24Q߃_$Φ9]X`H 95 ߋD+CjQr@?]%*qKDmMi1&,tu"} 8曁JiL(@iB HPm98qZ6,մBA gkYq=&qקjAzf25`C\H@VLz@zROsNR:zʼ@8Θ%sPuZ6)+nfnң[lrEk-=i$*ӹjF$ 9[W swb3Xm犋N<bAwsFM}(3EJ1Qڌ )Ts@֗='zҗ&E/7 R:SԔoCKR`$_~#g*C/Ӎw2W.G9l4\LmڛAyAa֔iZlGzxqm&GS=*A$THf>z 'jQ9PiڕQޏj3h4z^hGoSJOw);0PJCGj)h43KLcZJvz pMh(kt,dMsgw?ka.g39f%bK-rML)ͅzW*fн8IlϿg?1(0Y~H<HWPڅ[>RRIG>r ԟ=[6#`2,.<}-m㑻ሮ_S>\[y.d8,k7SޜS5Sjw|@rviWź/ ssֱۧ2z5v|0:#[|G?UQ좩ͩ^Ls)*hkH_ &<&'lSҶHŻ!PWE?bx"vv,@4@ˊC ~F,Tm:VN.tQX}v8qI_'O>z>ՐUFMK\W=`[[%->faK BXz"pIt)ץ~ξhZ?\/a#旧Ҿa1c5׎xl4Zz-ɥ֔H1fьqޑ>d@HhP֐Rڀcr(?K* =Wb06[:uF4'5r'h ~[MR V8~fɣOZt$U#I @=ª]ڢyn A^7kcOB[FAU`t`Byя~(;Rю:QqҀґ3GR4ϽLҎc^i1JgivE;NGZvӃM9E1<6E.)1m+UA1kY!)\b߫H=" q'CMLcץI'^i@h"FEZU,1V`jC/'LzӘs8(տ E#4ӊwA1? J)^hJQIҜs@ (q@@8 @zb)#ڌ⓭/GsF3@'!Kڀ"v84ZP=J$~̰+xTo?mdxNˏͿg~%p2F`} XéY3AOkG fsb),e NMeWSi/E%YK\:\ 7b=k t¾o}=7^-vmo%kz((  0?ZfaH*BOZy$9T?IiN1WeIj08;c\>w7Dz2Mjut<@ҤLP+B:ZMR\0#5~qnVăi\jՅ(cL<܂9nsZKgȧg]_oQb nrI&%1ݘT{ю)3J}t(94/&9'Qۊ_3/|Ո5jߨ3{;riTHs֤(e#vvMQ=isNRJQ@tޖ:q=N9z3ހhKڐPKړ4tԠz):Qj^(K@ɠ? QN80RZbW3{#{훨zbt,]tekҬ%n!mB=+XUF+~Rg'G4}V^F_ һxY ~d+cyqx tZ Jk,qj+^֫ykZeVjuYXyc+Kx( |9E$IJF]MkWc>S?  )_=ᵱڟ$;G5Lڭ䇒9?|m|"v1[vWs1i9$?*ck)97fi֎ RE/!⎝iތ )?QA.sqK)~qR9Qjz`^K K8gJi f=jcuJB8]M4{QH`qIh1;#_i~%SdEuog tU7€AM#9"φ<27c6)α>Zӊ Vi^< 65V`;lu$ԡs7(q^V.ݞP=7UuߴL{o57qWOZiQG,*ڕ#2D072yj4SV?Z<=s)q"n=rMAG>Yؒ}_װA,DxWe, l㭟bE%v֠ ivQ)tv˹WTQ_?CUJg7yzy@hL:du@ 84QހRbsJsjN'JSzQ֐{ҏj{Z)3J^:vR1@xL;Ҁ=h+V?,k&%` {dPD8p2I־Cm] $R>e=ѫx^LGz3IbӢ(=YzUN 徕k5 e\Ûz8i-JTz4{l`pL1Js0v)s2AQRx!_ƝK{tFOrOxV'O_ZJjN[n&Cn*qzՅ(€t5)93ךg5 ۞j79G|ў3c8# Jx4gqށJ1Q֔қڔ @8vڒڀ cA撀4ӿ nq׊F]ğ^!Ӯ dy3_A!ܣb?ZgB{F?zu#um6X*|HF{ޙ6/*L3h83%c_q]m[ֲކe7t𙝜X:GcXzIjxO^ueorܭaK&Iϳ|s]t3WHJKzuܚ^ӇTr=7mb@GBFOEL6ʥԊQH଴<[o].x!o׮T/AZ浪u -^FTtbosJIA8&u[H7>tN傻"H\v/jznep;w5ڜʪrR[fsOBmK)SU7Փ3Z!Č eu 1¨ɯۮ[ܾ?^kŔ^nbѣA#3-'3xtLĒidUÚ@3H5z%ږg[UP1Ocb}5ѷq涵&pJ,wd^Ǜ;u +Ԇ9;cI^1h蜅*-Qsw&n/'ZG '{U5us\$:uY%9 LmRDܮbɦ o->^YBFџ`)=+gbANqҧhv՟})bk aOnǴHւ?J:{iRs!9J H`("80(<O("fKߊ@/I4yޔ}M/^{wqҘG5'riښE8ixVՑ9+r쳷JDan:Vd{tzY#} q}7=K:~%iZ[%c9SY#ʥJdD rΒ[|}>hdhƏg7';ĺmJ=)לGNI /qd*G>=j9xpvi.$GV4t7e>f=V8[y%dzQ!zu\q)_[?dkG(*RkĶpdDLOθieSdg?guRɡjJ=LOqkw]TgWk28iB ieΡ X砮H=\bh`co1|xf;ItvZKTեsEvj*TдtF?N#+޾e5oKͼGɄʼ>"jNfƣOSW ҇MLy=H9Ws=ڮ;0ltIB~LKF%0q^iF4yU*56vejʿdZk0f.e貛֧'si,De~O]ϦN@TGq%_~v YGݷ(F<)?vHL52iqRxS{3g mW-$`\q]lvQaRJ:XƊi$|V1v@唜6Z! !z@'kru3+^jS"{bSRZhywQ4PǭtJ=hiJE!Ԥhk}~93ֽȬN5a~)!.\dݚԺ"f4#=JQ$#O*M;RAKߚ&9'^iv rOҚ!`AWBqU8O֮!;F4ƎLc4?Jh84A :3N4`)PsF=)1L@ON4ڏN@%ڗ'bKkd j=M^&'7SJz/p]:zW $JG`)UMF >p?Z4ޚzMtC.¢-m\Ԛ_#J[kB8K(q>şE_ 6)EWW*_QYc]5<߉V͝bS ANbI$k+#y;n:~u5a[^ʔ?TW3GhuX3*: 2{.킞xCOheWn+TO2hVaxz^1c$mŭwZ95̬9j@Aa<4YcPe'F޸dTy2vb𝆫;zPlVņp+7rLv1ʗk^Fk*l@Gaz*8 R͖ýR֔g q999cJZhhAWoӚhrޔ֗)M)*OB:`(iz@xRC94Qғ<C)2h=(4.:G4 2y3@t4R?ԜzzQQhJ:SiÊuc~375¿cqqXj9^UMkL:"y8 "z޽|*xz=/V&s(YC)?CZ#q K]3#Ijy pνIU_%漨? YҌ+־sNW-k >sZ1xNs)SkɩCV.#gJ+7sN#?jzty蠚a=_lSZ/ؤ$p+t`m1[X7mi )eU.Urhw~GYx2BD\|_bsoAZ:?fa%bS]rGk3 f'DiGޟ~ lo}vdNw;=̤$0coŞ &q\t?z(>biVvkxJMyOVr*!shtjBHQֶX("9uIo]7i&e[fƕrm)hE%.=i4z4\ /ojA@ր^xhJ@ pqKA14{ӅhN8sHG4Cqޗ. ~d4A2رyVD޵ֲ; q֤<Maoz 35xkQ⁤\gZ xP֫1tXw+h~${]?Ract u]99u bIyҳ )Yb9R^^4BtwN_i-9Acuru﷊xc?$@ g/|L}rY4FM1IH83:+P[M,Jz:Ig11 UbSlfd&jwckɭs Z*+5kbr1Ym_ts-dϿ1FHBO&mM&hsVZ2\PTqǻZʜgm}/&Ѻ"]SkXO5USd ؝M5_O3M`FgJW;hYSWӗTi̍R0) girHWE8^Ex-ְZudbL^#٬hK˝XIt'Z$i.Zjrcy=v9F"#zO+y\gK`jAi/>^sGҌ NQ^i3("wu>GJ(q;x(#49;ϵ4zG<)>#(y4 i敎GXHi̭];tL%{dOjݎ8JA{0¦=*YvGLPN#P~QBsA2xDHj:J&$[VFqLHJ(DϽ u掤ӥG zp("Mi qނyGzNi>SsJS@;v0 GH9)GQE?ҟc&qF8RLgdAWޣt\K" Jz_E3L-/F֭Y8c?0M]XitIEN34[PAEJ[vܢsɩzshi$TME5K2'o dJ5MH%t.HH5G%$kx׋%fH+ϧ5"B_62ӏfbFۓ(?JiB:fMjxt~u`F/sb7oƺX*iѧaXiG62hhHo$TW<2hErh{qOeIcXW&mVQMi$f*m,.BU,q޴LxTJ!j%+i5ˏ^⳺bY'j'h(@hq@ ԎwF;PAhҔQM"H V;XZހ%JCH4~ivyg*,R}hϯZfA}iH=UՆ'Z`FxPq41iiYi4-]7VL=R50BvOSR?9qR7 sK4(#)4rA+b㱪D2Gߚj  2QOƂGZJ\Sg }iǧ@ OQңSHM9sHOj3ir}'"}֗qGlRҌ☄KqN" 1 &{Ӊ4hz(4ғ@ғK:Q9Lϭyhu?Q@s@sۥ7/>R ւ=◥րʗ9>(آ)@r5x[׈o}\Nic+pk4c4R0*^-9tҤ-W-_@wUEe,DZU4¹b*/'ڳnX*-'5I'b{SDwZMRLŏz+e湣ޥuӅb_jʃQQ(b CK֒)֐tAA@PiҜi; (ըǭUZ<JSȤGچvq連)g֚HB)^["^*̜:UyI '=iH1#zsy~jQA2عp e2kRu8YGa!tOJL"< py楖=zS3ϥ=rOsTf>r6ŒU8: յ)tsGґzsK2DzNҀR֒{qP2p()r qmƯfDW1[Œy4QU̫k;5Ŝ#~"k~KƜ`9@JG4zGS([h@4iq֓( ?8mw>hן~pξ3S♚OtEcxaTlRlֺWLSv9elFN JSkoY|\V)m bTwL%gm] /\{ԫH5un-nr8+Ua-яئ5\uRzf {R!K>%2j?~n&=)$+2[R~VȨӔXi~&(Fk?Zc<b﹎Ik7'-tEC+~Xh'#anhs҃Ҋ`&x8ǡPhϥ!4v29#J(S #\9 &R7\ ZCf籥JJSE<)HS@JOh)j'E+H}x> '`xmHRw)#k>l[FjG4"eTu5 |UڭieDív߳F+Fdu?TΥ)]]ڿ'joUqXJOŚ K>0"G(݈>]+UCgӄObQ4,qgs@Mw6 [2+fEֹ `H M>Q9:tԕ|=Үto85[-,!maw{-&|kբ_c?\'ğx cK1~%g+HMfeRTnQuQIԝ})qڀO4##eIzRM'4k]ێj\iiX\~1| 扼`pyK,.Do]xbvVL{5\R $:PxGj $њP(-4{ӀJ81яzZP;(?Zvt( @ v8=(7RNmz jAAǩژ 9{OTHpEf+d{/t0yCV֪ÌJGt9SA :hSj=jF/ZgzhR,dqTbj}я֨s+N/J^{S JCӏݦ r:Tu"KGzONJ=yP:ph4tqIҁJ_zol4PQڊQ׵&1ޔ{coMI|0#v?Wcu<-}CL#]4՝o-TI=<(3vc2bM u;42rrSu ɮj8m5WyHQ6W2{qpw*/c2>Z8mkkhY R>(q%mQ9H)W;G+owd5E07:Q1桹bd5l2Òx?QN*GYG#lԺhZ+֕osh'jiP`CnIɯ4 4Oɧi6\Gl'B~f1^~KbWqWĺO^I1>cP3ڤ^״;=J׈#꧸ |, \:I)ҽo}3&F.q^GEo򶫟 '`.yxŕ܊Y %*:WO'(,3Vׇh5"Q w(a"i%ɸ'KI\kiloV).kṘ1P?yo=B [xRz,{ ;Ue%f7=zQJ?&̯}8{S d'Y tZ4jK+/'(<)@H h'Sk$&fE dѓKzPO=h>( ivZ8&)OPߚ0h4@)“58}(J. ;8Vc0EU*7 -R hݓE=8Udri 9|8&}֍=hFnMW40"=zQR& =T^zd'οJʻZse&W`jŽZcZ86.暠GI`#ҰҐu942eqteU8NثFjG8:qG$(h'4}(qjDD4g;G@Jz@*R{EsF(4w(G=(#ҏ!hJ1w3K$Id@8N2= 4rE _ AYmlUX:ZވG‹ǾuM!%Y?ҸM;&^g?\תx[CރkY<!ZB '83B:dq?8NEb 5?_ y2'~c/}|^sc~K_|Uωub;ʖھ֥C #$u[IK&3b׿nHm\|zuuAl훍= ;EɱwrGk*it42voGU5SDwEF?k/>/¾qr;t#վKwgvw${Z֖)w`b$ ls\|(\|>G0?^cZ7pZ,>\ɿptc-$Ts] ʊqS ,|;5‚WH 94K`gxZHAeVʸ拔M#=+,j날5Z<7? ZO«jT ykM{_4{P pFAI1SHz/9]mVt5nP @O6H$Zռ0)e(*iGNM,-#^t.L΃7֟-"*qRxkIִE`p\1Ry#I%tnU@Շwnn͔حGJz)Bh'(4v~PO^EF1@ ~<}(40zPy])~4c'LLړqSHN)0q`1lQqLu@4@4"O"==ݠnUZ4 jr˺kY]Z V!qVACPF N@?4t'1J87O'DȞ 2MR>^H9h~SIK&{O_l3ڤ\bRw'b(#c?\AFxL1Ii{N4P{Rg4tPu(=hh) `я^:&:RAO irz>e>xn/#,S4؁~dWk=@:?D.{ȘO-3gz1w s* C`0kd}+/\^>\qwSɤ.2Ngzu4?J9q@oZ^cNzf֔Ӹh(L拈fq@"#f5?|CfKy&NUفG%8?ﵥ-)y^E$[K#R oc} Pбғڸ}iUVW ͏ý&Jd_%x{MXlq[!L-`K[Xmc5 tWS_$z!q?/WaJ^_-k$627'F?@®? ϸC!G?'k|_&nR=?CYݚ }A=XupOQ|£V^К Vp)tX ăԓG>]v𷊭%>MW :wH$T_li=e++t-أa*xjn 68_xFDdMew#bp*}YB0A\^f! Tv+/KN IZ6rz܇޺X֟CY&׍?͸^J2\׭Û6ƒ?ZH)Du[8[G/lvP iTzXږ9p=^#(qڵ㾊Fq\ϋֹEIw7PfQffE5x[FTəzU_5YTҪZدۚ<^3fO5$ֺoeȗy<7O[LUF4Nc}(jS@ h1TQ׵GAJwtӮ3JHzP)# 4׵ IK֓#4N#R v4P'R!֝h9@MeăQmO(ouzN:UO1To9DzUN$~iOG'N9H:ROPtsR\sQȦ"Hx5}Tm5F gMQZQ@`qӊANb1CWIȅC+pA$u4DO?wIwZ}ڕKBA qJ4eԁm $~UamYDd{PcTd<{˸y&v $]JHgh:U\i֐dHoΦ5,\s;¿  xj8fN|ۆe+#":\_^8H BO>M=ޥg~B fOO4vh'__[۠3p89+W<{Ɨ5ٌsWֺhIpdI9]?G• wZH–.Q޽2vGQ抶MYGv̥+5"]7[rbOox.afNM;5-ˁPX H(m, ͻk'e^x$-u0>xIR}U>5sjwb~ѷ1$ݮяElM$R3# QE}$} w|ED,dA+uOiee F*(gE'翊?%dcd+pҟVCLJ=N؝6Ys+M/-{57"׼O[Bawܨz)F j9rVf2NT ;׻|*Gw ©mðlwrIB*x/}'ڊ+(-M  9m;(kJ[ݎzQE2QɷE޽ȧ)=C@RSEjEo Warning: fopen(https://newsweekme.com/wp-content/uploads/2016/10/2016-10-23T202021Z_1859400401_S1AEUIRNAJAA_RTRMADP_3_TIME-WARNER-M-A-AT-T-780x439.jpg): failed to open stream: HTTP wrapper does not support writeable connections in /home/newsweekme/public_html/wp-includes/class-wp-image-editor.php on line 428

An AT&T logo is seen at a AT&T building in New York City,. REUTERS/Stephanie Keith

By Jessica Toonkel and Supantha Mukherjee

Oct 24 – Time Warner Inc Chief Executive Jeff Bewkes said on Monday that AT&T Inc was the only company to make a takeover approach for the media group.

AT&T said on Saturday it had agreed to buy Time Warner for $85.4 billion, or $107.50 per share, to gain control of cable TV channels HBO and CNN, film studio Warner Bros, and other coveted media assets.

“Given the steep multiples being offered by AT&T, we doubt a competing offer for the whole of Time Warner can emerge,” said Credit Suisse analyst Omar Sheikh.

Several media outlets had reported that Apple Inc had also been interested in acquiring Time Warner.

The deal is expected to face close scrutiny from antitrust regulators, but AT&T Chief Executive Randall Stephenson seemed confident that the deal will sail through.

“While regulators will often time have concerns with vertical integrations, those are always remedied by conditions imposed on the merger, so that’s how we envision this one to play out,” said Stephenson told CNBC in an interview.

Wall Street analysts on Monday expressed concerns about the implications of the regulatory challenges facing the deal on Time Warner’s stock.

“From a regulatory perspective we believe management are relying heavily on the argument that vertical mergers have historically been approved, yet with so much up in the air in Washington, we find this riskier than would be typical,” said Cowen & Co analyst Colby Synesael.

“We are unprepared at this point to assign anything higher than a 50/50 probability of deal approval,” wrote MoffettNathanson Research in a report Monday, downgrading Time warner to Neutral but raising its target price $8 to $100.

Similarly, Credit Suisse lowered its rating on Time Warner to “neutral” from “outperform”, but raised the price target to $107.50 from $90.

“We believe the value of the offer is full on current earnings and cash flow; that the probability of a counteroffer from a third party is low; and that the transaction will face lengthy scrutiny from regulators,” Omar Sheikh, a Credit Suisse analyst wrote in a report Monday. “We now see better opportunities elsewhere in U.S. Media.”

Time Warner’s shares were down 1.4 percent at $88.19 before the opening bell on Monday. AT&T’s shares were down 2.3 percent at $36.62.

Social Streams

Comments

comments

Facebook Comments

Post a comment