Home » AT&T »Competition »Consumer News »Public Policy & Gov't » Currently Reading:

BREAKING: Justice Dept. Will File a Lawsuit to Block AT&T/Time Warner Merger

Phillip Dampier November 20, 2017 AT&T, Competition, Consumer News, Public Policy & Gov't No Comments

WASHINGTON (Reuters) – The U.S. Department of Justice will file a lawsuit aimed at blocking AT&T Inc’s $85.4 billion acquisition of Time Warner Inc, a source familiar with the matter told Reuters on Monday.

AT&T, the No. 2 U.S. wireless carrier, struck a deal in October 2016 to buy Time Warner, which owns the premium channel HBO, movie studio Warner Bros and news channel CNN, in order to compete by bundling mobile service with video entertainment.

Shares of Time Warner fell to trade about 1 percent lower on Monday on the back of reports that the U.S. government is set to make an antitrust announcement.

The media company’s stock was trading near the flatline before the news hit. AT&T shares, meanwhile, jumped about 1 percent. Bloomberg first reported the news.







Search This Site:

Contributions:

Recent Comments:

  • Bill Callahan: Buffalo? Syracuse?...
  • Fred Hall: Haha.....someone at Sinclair didn't provide enough "grease" for Ajit's palm...
  • Joseph Lindberg: I pay $93.45 for just TV select $6.00 or so for two TV boxes each the cheap ones not dvrs and $14.99 or something in tax and $64.99 for the TV select ...
  • Norm Mueller: Do not even consider this company for your service provider, or you will forever regret it like I do. This started because Comcast's promotional rate...
  • Katherine. Voss: I sent all my contract buyout forms. Got no credible response. This is a scheme. I am sending information to proper agencies....
  • Noemi Romero: i have been waiting for 3 month and 2 weeks now for my refund and every time i call is like no one knows what the hell i am talking about. like seriou...
  • Josh: Sounds risky....40 million subscribers is insanely high, and clearly that guy running it since ‘92 knows what he’s doing. I forgot AT&T owns hbo ...
  • alan: i stopped pissing $ away on paying to see commercials 20 years ago did the direct tv , dishnet card programing my own cards ..then that became a sma...
  • Denis Cartledge: I live in a small (Australian) New England regional town, population ~3,500. The main north south New England Fibre Trunk runs up our main street, wh...
  • James Thompsen: You pay more you get mor.... hey wait an Effin minute!...
  • Joshi: Honestly, I'm glad Comcast did not win the bid. If they won, things would have gotten a lot worse since they bought out NBC Universal and Dreamworks s...
  • Stephen Collins: The modem increase is the most unconscionable of the bunch....

Your Account: