US To Announce "Major Antitrust Matter" Involving AT&T

[Swordsmyth]

Just minutes after the DOJ announced that it would be unveiling a major anti-trust action late Monday, Bloomberg reported that AT&T will be the target of said action.

The challenge would derail a deal that had appeared to be sailing toward approval as recently as a month ago. That was before the new US antitrust chief Makan Delrahim took up his position and took over the investigation.

More at: http://www.zerohedge.com/news/2017-1...block-att-deal

[nikcers]

Just minutes after the DOJ announced that it would be unveiling a major anti-trust action late Monday, Bloomberg reported that AT&T will be the target of said action.

The challenge would derail a deal that had appeared to be sailing toward approval as recently as a month ago. That was before the new US antitrust chief Makan Delrahim took up his position and took over the investigation.

More at: http://www.zerohedge.com/news/2017-1...block-att-deal

Update (4:50 pm ET): Court documents have confirmed that the DOJ is suing to block the AT&T-Time Warner deal, according to several US media organizations...

[Brett85]

Dumb move. This certainly isn't good for me when I own 200 shares of AT@T.

[Swordsmyth]

AT&T, Time Warner Respond To DOJ Anti-Trust Lawsuit

Update (5:40 pm ET): In a statement, AT&T CEO Randall Stephenson vowed to fight the DOJ's lawsuit. He said AT&T's challenge is about preserving the rule of law against an overreaching DOJ anti-trust division. He also said that, while he doesn't know for sure if the opposition is political in nature, he's not surprised that the question of whether this is a political vendetta keep coming up.
He also vowed that AT&T wouldn't divest Turner Broadcasting and CNN, calling that "a nonstarter."
"When the government suddenly discards decades of legal precedent, businesses large and small are left with no legal guidepost."
"We have no intention of proposing a solution outside of the bounds of what the rule of law would require."
"There's been a lot of reporting and speculation whether this is all about CNN. But frankly I dont know. But nobody should be surprise that the question keeps coming up because we've witnessed such an abrupt change in the application of anti-trust law here."
"Any agreement that results in us forfeiting control of CNN, whether directly or indirectly, is a nonstarter. We have no intention of backing down from the government's lawsuit."
A lawyer for AT&T also noted that Trump has been "critical" of CNN. The president of course has repeatedly accused the network of being "fake news."
In response to a reporter's question, Time Warner CEO Jeff Bewkes said he would push for the earliest possible court date, adding that the first hearings could begin in 60 days or less.
Watch the news conference live below:

http://www.zerohedge.com/news/2017-1...block-att-deal

[nikcers]

Dumb move. This certainly isn't good for me when I own 200 shares of AT@T.

I member Trump tweeted out that he was against it.