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AT&T/Time Warner antitrust trial set for March
Source: Reuters
#BUSINESS NEWS DECEMBER 7, 2017 / 6:07 AM / UPDATED 9 MINUTES AGO
AT&T/Time Warner antitrust trial set for March
Diane Bartz
4 MIN READ
WASHINGTON (Reuters) - The trial to determine if the U.S. Department of Justice can stop AT&T Inc’s $85 billion purchase of media company Time Warner Inc will begin on March 19 with no decision expected before the companies’ April 22 deadline to complete the deal, a federal judge said on Thursday.
Time Warner and AT&T, which is the No. 2 U.S. wireless company and also owns DirecTV, announced their deal in October 2016, but it was not until last month that the Justice Department sued AT&T to block the deal, arguing it could raise prices for rivals and pay-TV subscribers and hamper the development of online video.
Judge Richard Leon said during a hearing on Thursday he would likely not have a decision by the deadline in the companies’ merger agreement, but would rule in late April or May. The trial date is almost midway between the Feb. 20 date AT&T had requested and the U.S. government’s preferred date of May 7.
In a statement, AT&T’s General Counsel David McAtee thanked the court for its “expeditious approach” to the schedule. “We will promptly discuss the Court’s post-trial schedule with Time Warner,” he said. “We are committed to this transaction and look forward to presenting our case in March.”
-snip-
AT&T/Time Warner antitrust trial set for March
Diane Bartz
4 MIN READ
WASHINGTON (Reuters) - The trial to determine if the U.S. Department of Justice can stop AT&T Inc’s $85 billion purchase of media company Time Warner Inc will begin on March 19 with no decision expected before the companies’ April 22 deadline to complete the deal, a federal judge said on Thursday.
Time Warner and AT&T, which is the No. 2 U.S. wireless company and also owns DirecTV, announced their deal in October 2016, but it was not until last month that the Justice Department sued AT&T to block the deal, arguing it could raise prices for rivals and pay-TV subscribers and hamper the development of online video.
Judge Richard Leon said during a hearing on Thursday he would likely not have a decision by the deadline in the companies’ merger agreement, but would rule in late April or May. The trial date is almost midway between the Feb. 20 date AT&T had requested and the U.S. government’s preferred date of May 7.
In a statement, AT&T’s General Counsel David McAtee thanked the court for its “expeditious approach” to the schedule. “We will promptly discuss the Court’s post-trial schedule with Time Warner,” he said. “We are committed to this transaction and look forward to presenting our case in March.”
-snip-
Read more: https://www.reuters.com/article/us-time-warner-m-a-at-t/att-time-warner-antitrust-trial-set-for-march-idUSKBN1E11DR
