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U.S. urges judge to reject AT&T/Time Warner court date proposal

Reuters  |  WASHINGTON 

(Reuters) - The U.S. on Tuesday urged federal judge to reject the February date sought by AT&and in dispute over the firms' proposed merger, arguing the companies are rushing to meet an April 22 closing deadline for their $85.4 billion deal.

The U.S. Justice Department last month sued to block AT&T's planned acquisition of Warner, saying the combination could raise prices for rivals and pay-TV subscribers while hampering the development of online video.

AT&CEO Randall Stephenson had called the companies' requested date of Feb. 20 "reasonable ask." The had requested that proceedings start on May 7.

AT&will have to pay $500 million if the is not consummated by April 22.

(Reporting by Eric Beech; Editing by Tim Ahmann and Christopher Cushing)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, December 06 2017. 10:37 IST