Judge Says AT&T Can Buy Time Warner
AT&T today was given permission to buy Time Warmer with no conditions and no divestitures. The ruling was handed down by U.S. District Judge Richard Leon. The ruling settles the lawsuit filed by the U.S. Department of Justice, which has opposed the deal from the start. The Justice Department believes AT&T will use Time Warner's content as a weapon against consumers, raising prices and limiting competition. AT&T says it needs to acquire Time Warner in order to compete with Verizon Communications. The government will not require AT&T to meet any special conditions to finalize the merger, nor sell any properties. In a last-minute twist, Justice Department attorney Craig Conrath asked the judge to take some protective measures, such as concessions, should he allow the deal to proceed. It appears as though Leon did not feel this tactic was warranted. The deal is valued at $85.4 billion. Time Warner owns HBO and CNN.
May 1, 2018
The Justice Department, during closing arguments of its case against the AT&T-Time Warner merger, suddenly suggested the judge weigh "alternative" remedies should he choose not to block the deal. The Justice Department has fought against the merger from the start, saying AT&T would use Time Warner's content as a weapon against consumers, raising prices and limiting competition.
Jun 14, 2018
AT&T today said it has completed its purchase of Time Warner, a deal originally valued at $85.4 billion when it was announced in October 2016. Earlier this week, a U.S.
Nov 20, 2017
The U.S. Department of Justice has sued to stop the proposed merger between AT&T and Time Warner.
Oct 23, 2016
AT&T has agreed to purchase Time Warner for $85.4 billion in a stock-and-cash deal that will merge AT&T's delivery networks with Time Warner's vast catalog of content. AT&T believes the combined companies will be able to save $1 billion per year once fully merged.
May 22, 2018
At least one person thinks Sprint and T-Mobile should be required to divest their respective prepaid businesses if they are allowed to merge. Peter Adderton, founder and former CEO of Boost Mobile, firmly believes the market will become less competitive — particularly in the prepaid space — if Sprint and T-Mobile are allowed to merge without any divestitures.