AT&T Says DOJ Suing to Stop Buy of Time Warner, Calls Move 'Radical'
Plans by DOJ to sue to block AT&T's buy of Time Warner are "a radical and inexplicable departure" from antitrust precedent, AT&T General Counsel David McAtee said Monday. In a statement, he said vertical mergers routinely get approved "because they benefit consumers without removing any competitor from the market" and there's no reason AT&T/TW should be any different. The telco said it will hold a news conference at 5:30 p.m. EST with CEO Randall Stephenson to discuss the litigation.
Sign up for a free preview to unlock the rest of this article
Communications Daily is required reading for senior executives at top telecom corporations, law firms, lobbying organizations, associations and government agencies (including the FCC). Join them today!
The company said it's "confident" a U.S. District Court will reject any such suit and allow the deal. Already, parties were reacting for and against the coming court challenge to the takeover.
Justice didn't comment Monday.