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AT&T, Time Warner Deal Approval to Be Appealed by DOJ

AT&T, Time Warner Deal Approval to Be Appealed by U.S. Department of Justice A federal judge approved AT&T Inc's $85.4 billion acquisition of Time Warner in June. The Justice Department expressed its disappointment with the ruling, arguing the deal would make the pay-TV market 'less competitive.' The merger closed on June 14. AT&T General Counsel David McAtee said the company was surprised by the appeal. The government's court filing did not disclose on what grounds it intends to challenge the approval. AT&T has maintained that buying Time Warner would help the company compete against tech companies like Amazon and Netflix. The No. 2 wireless carrier in the U.S., AT&T says the deal would help attract customers by bundling entertainment with mobile service.

Source: Inform News

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