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22:30, 20 November 2017

U.S. Sues to Block AT&T-Time Warner Merger


U.S. Sues to Block AT&T-Time Warner Merger

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WASHINGTON — The Justice Division on Monday sued to block AT&ampT’s $85.four billion bid for Time Warner, setting up a showdown over the 1st blockbuster acquisition to come before the Trump administration.

By difficult the deal, the Justice Department is taking a starkly distinct method to antitrust troubles than the Obama administration did. In 2011, for instance, the division authorized a related deal — Comcast’s acquisition of NBCUniversal — following imposing several circumstances on the transaction.

Makan Delrahim, the department’s leading antitrust regulator, mentioned the Justice Division opposed the deal due to the fact it would develop a communications and media behemoth unrivaled in its capacity to attain most American residences with wireless and satellite television services and worthwhile programming such as CNN and HBO, the property to “Game of Thrones.”

“This merger would drastically harm American buyers,” Mr. Delrahim, the assistant attorney general for antitrust, said in a statement. “It would imply larger month-to-month tv bills and fewer of the new, emerging revolutionary options that consumers are beginning to take pleasure in.”

AT&ampT mentioned it would defend its merger in court.

“Today’s D.O.J. lawsuit is a radical and inexplicable departure from decades of antitrust precedent,” AT&ampT’s common counsel, David McAtee, said in a statement. “We are confident that the court will reject the government’s claims and permit this merger below longstanding legal precedent.”

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Published at Mon, 20 Nov 2017 22:19:26 +0000


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