- iSDaily Wednesday – February 21st, 2018 – Episode 033
On this episode of iSDaily Wednesday with The One True Niz and Paul Gordon, On NewsFire, California's Pro Mass Shooter Law On Skynetter, Getting Road for Robo Army Merica On Liberty Tech, Blockchain Banking Thanks to Amanda [...]The post iSDaily Wednesday – February 21st, 2018 – Episode 033 appeared first on iState. […]
AT&T Faces Long Legal Battle if it Wants to Merge with Time Warner and Keep CNN
The Department of Justice has told AT&T that if it wants to merge with Time Warner, it must first sell either CNN or Direct TV. AT&T has fired back that it has no intention of selling CNN, and ‘experts’ suggest that a legal battle is sure to ensue, challenging DOJ’s right to prevent the merger in the first place.
From Arts Technica
The Trump administration is asking AT&T and Time Warner Inc. to sell off either CNN or DirecTV in order to win government approval of their merger, multiple news outlets reported today.
AT&T has owned DirecTV since 2015 and is now seeking federal approval to purchase Time Warner Inc., the owner of programming such as HBO, CNN, and Warner Bros.
But a merged AT&T/Time Warner reportedly could keep CNN if it’s willing to sell DirecTV instead. CNBC said it has “confirmed the Justice Department has asked AT&T to sell Turner Broadcasting, which includes CNN, or sell DirecTV for merger approval.”
The government’s stance could lead to a legal battle. “If the Justice Department formally makes either demand a requisite for approval, AT&T and Time Warner would almost certainly take the matter to court to challenge the government’s legal basis for blocking their deal,” The New York Times wrote.
Until today, AT&T expressed confidence that it would wrap up the acquisition by the end of this year. But today, AT&T CFO John Stephens said that “the timing of the closing of the deal is now uncertain.”
AT&T said it will not sell CNN. “Until now, we’ve never commented on our discussions with the DOJ,” AT&T CEO Randall Stephenson said in a statement provided to Ars. “But given DOJ’s statement this afternoon, it’s important to set the record straight. Throughout this process, I have never offered to sell CNN and have no intention of doing so.”