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AT&T and Blonde | Adult Movies OnlineTime Warner have reportedly agreed to merge in a deal that would make them one of the biggest media distribution and production conglomerates in the world. But under a Trump administration, that deal might not fly.

"As an example of the power structure I'm fighting, AT&T is buying Time Warner and thus CNN, a deal we will not approve in my administration because it's too much concentration of power in the hands of too few," Republican presidential candidate Donald Trump said during a rally Saturday.

Time Warner owns HBO and the Turner Broadcasting System, which includes CNNand a host of other channels. (Turner made an investment in Mashable this year.)

The two companies reportedly agreed to AT&T's $80 billion acquisition of Time Warner on Saturday. An announcement is expected as soon as Saturday night.

The deal wouldn't close until late 2017, so a Trump administration could very well affect the acquisition's chances. Under any president, the deal will be highly scrutinized by regulators.

According to CNN, Trump also said Saturday he would look into breaking up the 2011 merger of Comcast and NBCUniversal. That deal is the most recent to resemble AT&T's proposal.

The position is an unusual one for a Republican. Usually Democrats are the ones to rail against big-business mergers and acquisitions. President Barack Obama's administration approved Comcast's purchase of NBCUniversal.

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