So yesterday a tidal wave of news trickled out from the bucket the AT&T/Time Warner deal has been marinating in. Apparently the DOJ has raised an objection to AT&T's ownership of Turner Broadcasting, which owns CNN, HBO, TBS, TNT, Warner Bros and other media properties.
So the easy tack to take here is that the Trump administration would like nothing more than to cut fake-news CNN loose from its moorings. After all, before the election Trump came out against the combination quite early. But then things cooled down and it looked like regulators were just going through the motions one would expect from the merger-friendly Republican party.
Have we come full circle? Or is the objection just the result of hard-working regulators doing what they're supposed to? Honestly it's rather hard to tell.
AT&T may be ready to take its cause to court and could possibly use Trump's public words to hobble the government's case, but the options markets seem to think the game is over.