Watch everything AT&T CEO Randall Stephenson said about the AT&T-Time Warner appeal

AT&T CEO: DOJ appeal doesn't change anything, the transaction is closed and...

AT&T CEO Randall Stephenson isn't changing his strategy with Time Warner after news that the U.S. government plans to appeal approval of the telecom giant's $85.4 billion merger with the media company.

"This changes nothing we'll be doing over the next 30 days or the next 12 months. We're about executing our plan. We think the likelihood of this thing being reversed and overturned is really remote. It's a very narrow path that would have to be traveled to get this thing reversed in any way," told CNBC's Julia Boorstin on Friday. "The merger is closed. We own Time Warner."

Stephenson took to CNBC's airwaves Friday morning, a day after the Department of Justice announced it planned to appeal a judge's decision in June allowing the blockbuster merger with Time Warner.