AT&T's Chairman Makes Political Donation to Opposition Politicians
Published on: 29th May 2012
Note -- this news article is more than a year old.
AT&T's Chairman responded to the US government's decision to block his takeover of T Mobile USA, by making his largest donation ever to the opposition Republican party.
The Democrat lead telecoms regulator, the FCC blocked AT&T's takeover of T-Mobile last year citing a number of issued including competition concerns.
It's now been revealed that just six weeks later, AT&T Chairman Randall Stephenson made a donation of US$30,800 to the Republican National Committee -- his largest campaign donation in more than two decades of giving to Republicans, and the largest legally permitted.
The donation was reported by Bloomberg News, citing findings by the Center for Responsive Politics, a research group that tracks political donations.
It is felt that Stephenson was smarting not just from the impact on the business of the merger block -- which cost the company dearly in breakup fees and spectrum transfers -- but also cost the Chairman a personal USD2 million in bonus payments.
The donation was a personal one and was not routed via the company.
On the web: Bloomberg News