AT&T Chairman and CEO Randall Stephenson sat down with CNBC to discuss President Donald Trump, the company’s proposed deal with Time Warner and his long-term vision for the telecom giant.

Stephenson said he believes the merger with Time Warner, valued at $85 billion, will close before the end of the year.

The chief executive also discussed how investors need to think of AT&T as a technology company, and not a phone or cable company.

“You think about a world where people are consuming content more and more on their mobile device, and the volumes, in terms of how much content is being consumed — I’m talking premium content, not just YouTube cat videos … the volumes are exploding,” he said.

The full interview, which took place at AT&T’s Pebble Beach Pro-Am golf tournament in California, is only available to PRO members.