DOJ sues to block AT&T-Time Warner merger

DOJ sues to block AT&T-Time Warner merger

Billionaire businessman Mark Cuban on Monday said he thinks Facebook and Google will be "big losers" of the Justice Department's intention to sue to block the proposed merger between Time Warner and AT&T.

Audio will be available later today.

Negotiations for the current deal that has AT&T valuing Time Warner at $85.4 billion originally began this past summer.

Monday's announcement comes two weeks after a controversy erupted publicly over whether AT&T would have to sell off CNN to sidestep government concerns about the company's plan to buy Time Warner.

Earlier this month, reports suggested that the DOJ was pushing AT&T to sell off either DirecTV or Turner Broadcasting, which houses CNN, in order to get the green light for the merger. "It is an insult to the career attorneys in the Justice Department to suggest that the decision to bring this suit was not based on the merits of the case", said Andrew Jay Schwartzman, veteran telecom observer now with the Georgetown University Law School.

Aside from Trump and the Justice Department, the deal is also opposed by an array of consumer groups and smaller television networks.

Russell Simmons Denies Abuse Claims, Tells Terry Crews to Forgive
The Los Angeles County district attorney's office did not file criminal charges due to insufficient evidence. Russell Simmons too, in a statement, said sexual acts carried out between him and Khalighi were consensual.

"We see no legitimate reason for our merger to be treated differently", the statement said.

AT&T's CEO Randall Stephenson, however, has countered that notion and said he was never under pressure to spin off CNN.

DOJ officials on Monday said that they couldn't agree with the companies on an "adequate remedy" that would make the merger less anti-competitive.

Donald Trump is not a fan of CNN. He has not commented on the AT&T deal since his inauguration in January.

"AT&T/DirecTV would hinder its rivals by forcing them to pay hundreds of millions of dollars more per year for Time Warner's networks, and it would use its increased power to slow the industry's transition to new and exciting video distribution models that provide greater choice for consumers".

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