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As we look ahead, we are going to operate under the assumption that the Time Warner (NYSE:TWX) acquisition will not go through (though we expect it will in reality).We also should point out that we continue to expect nearly flat operational earnings if the company cannot stop the loss of video DirecTV subscribers. That said, we do expect continued help from tax reform. Assuming in 2018 we see flat operational income before taxes, we estimate that under the old tax rate vs.
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