AT&T's (T) - Get Report offer to buy Time Warner (TWX) has a more than 50/50 chance of winning regulatory approval, according to Tuna Amobi, equity analyst at CFRA Research. Amobi repeated his BUY rating on Time Warner today, even though he has some caution about the regulatory process in the current environment. Amobi says the deal is part of the "rat race" among companies to be the one-stop shop for the consumers' entertainment and communications needs. Amobi thinks the deal could set off another wave of M&A among content and distribution companies. TheStreet's Rhonda Schaffler has details from Wall Street.