Time Warner And AT&T Shares Fall Following Donald Trump's Win

Shares of Time Warner Inc. fell nearly 3% in premarket trade and AT&T Inc. shares declined slightly in the wake of Donald Trump winning the 2016 presidential election. The two companies agreed to a $85.4 billion merger in October, which Donald Trump vowed to block if he won the presidency. A statement from his campaign at the time read: "Donald Trump will break up the new media conglomerate oligopolies that have gained enormous control over our information... Donald Trump would never approve such a deal." The deal has already faced stark criticism and potentially rigorous regulatory review down the road. Time Warner shares are up nearly 36% in the year to date, outperforming AT&T shares, which are up 7.5% and the S&P 500 Index , up nearly 5%.