Contacted by the AJC, AT&T spokespersons declined to comment. However, a person familiar with the Dallas-based telecom giant's plans said "AT&T plans to run Time Warner the same way it's run today." AT&T is a massive distribution network of cable and satellite television, as well as wireless phone communications. In contrast, New York-based Time Warner is a veritable juggernaut of content, including CNN, HBO, Cartoon Network and Warner Bros. The companies, which announced the deal Saturday night, argue their respective assets are complementary rather than competitive. (Time Warner sold off cable TV unit Time Warner Cable in 2009, and that later folded into Charter Communications.) Still, the agreement must get past what is expected to be a tough federal review. Regulators could compel the company to accept some conditions while still giving consent. The purchase would also include nearly $20 billion in Time Warner debt that AT&T would assume.