Republican presidential nominee Donald Trump said Saturday while campaigning in Gettysburg, Pa., that he would block megadeals like the AT&T (T) - Get Report and Time Warner (TWX) one if he were elected.
After days of speculation, the two behemoths announced Saturday that AT&T would buy Time Warner for $85.4 billion. The merger, which will need approval from the Department of Justice, would combine AT&T's global broadband and wireless network with Time Warner's far-reaching holdings in television, film and digital platforms led by HBO.
In describing his first 100 days in office, Trump said the deal would give AT&T "too much concentration of power in the hands of too few." Trump added that his administration would want to block such a deal.
NBCUniversal ended its business association with Trump in June 2015, as a result of his "derogatory" comments about immigrants. Trump's dealings with NBC were multifaceted, including his popular reality TV shows, "The Apprentice" and "The Celebrity Apprentice," and joint ownership of the Miss USA and Miss Universe beauty pageants.
Democratic presidential candidate Hillary Clinton has not yet commented on the deal. In June, James Ciccioni, then one of AT&T's top executives, threw his support behind Clinton. Ciccioni, a lifelong Republican, had worked in the White House under Presidents George H.W. Bush and Ronald Reagan.
, which Cramer co-manages as a charitable trust, is long CMCSA.