You are here: Home » International » News » Companies
Business Standard

US sues to block AT&T from buying Time Warner, says would hike rates

The Justice Department is arguing that AT&T would use Time Warner's films and movies to force rival pay-TV companies to pay

Reuters  |  Washington 

The US Department of Justice sued AT&T Inc on Monday to block its $85.4 billion acquisition of Time Warner Inc, saying the deal could raise prices for rivals and pay-TV subscribers while hampering the development of online video. The lawsuit is the first major challenge to a merger by the administration of U.S. President Donald Trump, who has repeatedly criticized Time Warner's CNN news unit and announced his opposition to the deal before the election last year, saying it would concentrate too much power in AT&T's hands. The Justice Department is arguing that AT&T would ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Tue, November 21 2017. 20:21 IST