The Department of Justice is deliberating the merger, but Trump's public disdain for CNN is regarded as a "wild card" in the White House, an unnamed senior official said.
It's unclear if Trump will attempt to influence the DOJ's review of the deal, but White House advisers have reportedly called it a "potential point of leverage."
CNN President Jeff Zucker said the merger isn't something he considers journalistically or in management decisions.
AT&T's shares fell 1.4% to $37.58 on Thursday morning. Time Warner's fell 0.1% to $101.31.
What's Hot On TheStreet
Apple is OK for the time being: For those silently worrying how the Apple (AAPL) iPhone 8 will sell, simmer down -- the tech giant still has several huge advantages. On the hardware side, for instance, the iPhone still feels ahead of the pack thanks not only to Apple's design skills and the visible features of its hardware, but also what's under the hood points out TheStreet's tech columnist Eric Jhonsa. From the looks of things, the iPhone 8 should extend that lead, Jhonsa predicts.
Tesla is looking wobbly: Tesla (TSLA) shares are looking a little shaky (again) after its Model S didn't get a top rating from Insurance Institute for Highway Safety (IIHS), reports TheStreet's James Skinner. The IIHS cited issues with the small overlap front test, which is meant to simulate crashes into trees, poles and other vehicles, as why the Model S did not receive the highest rating. IIHS Executive Vice President David Zuby said the front test remains a "hurdle" for some vehicles.