Justice Department Says Not So Fast to AT&T's Time Warner Bid
CNN, a network criticized by Trump, figures in a dispute between the government and AT&T, setting up a battle over the pending $85.4 billion deal.
It seemed like a match made in media heaven. AT&T is a telecommuni- cations giant whose reach stretches to millions of people all over the country, and Time Warner, the owner of CNN, HBO and Warner Bros., has content galore. Together, the two companies would create a colossus straddling the worlds of internet access, news and entertainment.
Until last week, AT&T's pending $85.4 billion acquisition of Time Warner seemed destined to close by the end of the year. On Wednesday, however, tensions between the Justice Department and executives at the two companies spilled out into the open.