AT&T is in the process of buying Time Warner. Not the cable company that was sold to Charter a few years ago, but the parent company behind CNN, TNT, and HBO.
Back in December the Department of Justice sued to block the merger on antitrust grounds. AT&T’s deal to buy Time Warner is an $85.4 billion deal in cash and stock.
The New York Times first reported that the Department of Justice has called on AT&T and Time Warner to sell all or part of the Turner Broadcasting Group—the group of cable networks that includes CNN—or to sell off DIRECTV and keep the cable networks, as a potential requirement for approving the companies’ pending deal.
Exactly what the Department of Justice is asking AT&T to do to get approval for the merger is still unknown, but AT&T has made it clear they have no plans to sell off any part of Time Warner to close this deal. We will likely learn a lot more in the next few days as the trial gets underway.
Source: Reuters
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