AT&T's $85.4 billion merger with Time Warner may avoid FCC scrutiny. A filing with the SEC reveals Time Warner's FCC licenses will be sold ahead of the merger. Without those licenses on hand, the FCC doesn't really have jurisdiction to give its input.
The filing states, "it is currently anticipated that Time Warner will not need to transfer any of its FCC licenses ... after the closing of the transaction."
Time Warner holds FCC licenses for transmitting content to satellites and sending content to pay-TV distributors. It's expected those licenses will be sold to a third-party. Time Warner can contract with the third-party to accomplish whatever it needs.
Without the FCC providing any input on the merger, the decision will fall in the lap of the Department of Justice. Although republicans are going to take over the DoJ, president-elect Donald Trump claims to be against the merger.
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