Department Of Justice To Sue To Block AT&T, Time Warner Merger

21 November, 2017, 01:25 | Author: Lora Ball
  • Getty  Alex Wong

The Justice Department intends to sue AT&T to stop its $85 billion purchase of Time Warner, according to a person familiar with the matter who was not authorized to discuss the matter ahead of the suit's official filing.

Mark Cuban thinks the big losers of the DOJ's decision to sue to block the AT&T-Time Warner merger will be Google and Facebook.

The Justice Department official also warned that such a merger could allow AT&T to slow down advances in technology that would cut costs for consumers.

Bloomberg's source said that the announcement will be about the Justice Department working to block the AT&T/Time Warner deal.

AT&T head lawyer David McAtee said so-called vertical mergers, between companies that are not direct competitors, are routinely approved. In 2011, for example, the office affirmed a comparative arrangement - Comcast's obtaining of NBCUniversal - in the wake of forcing various conditions on the exchange.

More news: Signals were false hope for Argentine Sub

Some news reports have said DOJ would only allow the merger if AT&T disposed of either DirecTV or Turner Broadcasting, including CNN.

In the deal, AT&T seeks to vertically integrate its wireless and pay-TV capabilities with Time Warner's video content including Warner Bros. studios and cable channels such as HBO, CNN, TNT and TBS.

"We see no legitimate reason for our merger to be treated differently", the statement said.

AT&T CEO Randall Stephenson said the idea his company would be too powerful after the deal "borders on the comical". "We are confident that the court will reject the government's claims and permit this merger under longstanding legal precedent".



Russell Simmons insists sex with assault accuser was consensual
The filmmaker's attorney, Marty Singer, tells the publication his client has " no recollection " of the incident. At the time , Ratner was a music video director and the protege of Def Jam Recordings co-founder Simmons.

Trump to LaVar Ball: 'I should have left them in jail!'
Although LiAngelo Ball publicly expressed nothing but gratitude for Trump's intercession, his father, LaVar Ball , spurned Trump. The players, for their part, did exactly that at an afternoon press conference the same day.

MI football QB Brandon Peters carted off field with injury
A second straight win over a ranked opponent should look good to the College Football Playoff selection committee. The Badgers held MI (8-3, 5-3) to 234 total yards, including 58 rushing yards, a season low for the Wolverines.

Salvation Army of Joplin holds Red Kettle Drive
The Red Kettle effort began in 1891 as a way to collect funds to help feed those in need during Thanksgiving and Christmas times. This year's Red Kettle Campaign season is beginning with all donations going to benefit those need throughout the Holidays.

Sen. Scott releases statement on Tax Reform
Tom Reed, R-Corning, were less essential as other upstate Republicans added their votes to a house tax bill passed Thursday. Scott sits on the Senate Finance Committee, which continues their markup on the Senate tax reform plan today.

George Clooney returning to TV in Catch-22 adaptation
The package - co-written by Luke Davies ( Lion ) and David Michod ( War Machine ) will be shopped in December. Clooney and his producing partner Grant Heslov will direct.

Twitter de-verifies white nationalists, far-right activists
But the company has recently begun to worry that the badges also conveyed an endorsement of the account by Twitter . It will be worth watching what other accounts lose verified status as Twitter continues its review.

Foot Locker, Inc. (FL) Price Target Cut to $36.00
According to their observations and findings, the stock could provide a high EPS of $0.86/share and a low EPS of $0.75/share. Barclays PLC set a $80.00 price target on Foot Locker and gave the stock a "buy" rating in a report on Saturday, August 5th.

Mantha, Athanasiou lead Red Wings to 8-2 win over Flames
But the Red Wings regained their two-goal advantage on a power play of their own when Mantha put his own rebound behind Lack. I hope there is punishment for starting the thing, which is what their player did".

Airbus lands biggest-ever order with $49.5bn deal for 430 airliners
Buyers typically receive discounts of 40% to 60% on the list prices, but can get even bigger reductions for really huge deals. It's about selling 430 airplanes from the A320 family to be bought by the American company Indigo Partners .