05:08 GMT +319 August 2018
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    Republican U.S. presidential nominee Donald Trump holds a campaign rally in Johnstown, Pennsylvania, U.S

    Trump Slams Massive AT&T, Time Warner Deal: 'Too Much Concentration of Power'

    © REUTERS / Jonathan Ernst
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    Republican presidential candidate Donald Trump vowed that his administration would not approve the acquisition of the media company Time Warner by multinational telecommunications conglomerate AT&T.

    AT&T announced on Saturday that they had reached an agreement with Time Warner to purchase the company for more than $80 billion and expected to close the deal by the end of 2017.

    If approved, the world's biggest deal this year would allow the new company to control both content and distribution by connecting AT&T's millions of customers to the cable TV channels HBO and CNN, the movie studio Warner Bros. and other media assets under the control of Time Warner.

    "When we combine Time Warner content with our scale and distribution…we're going to have something really special," Randall Stephenson, AT&T's chief executive, said on a late night conference call announcing the deal, the Guardian reported.

    At a rally on Saturday,Trump condemned the deal forming between the two conglomerates, saying "it's too much concentration of power in the hands of too few" and that it would "destroy democracy."

    Recently, the GOP nominee has been very critical of the way his campaign is being presented by the mainstream media.

    "They're trying desperately to suppress my vote and the voice of the American people." he said, according to a report by Business Insider.

    The mogul promised that if he manages to become the next occupant of the Oval Office, his administration will block the purchase, which he called an "example of the power structure [he is] fighting."

    Comments on the deal by Hillary Clinton's spokesman, Brian Fallon, were rather vague. He told reporters October 23 that although Democrats were concerned about it, "there's still a lot of information that needs to come out before any conclusions should be reached."

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    Donald Trump, deal, Time Warner, AT&T, United States
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