Deals
AT&T Ramps Up Preparations to Fight With U.S. Over Time Warner
- If approval requires sale of assets, case could head to court
- AT&T said unwilling to part with CNN, HBO, TNT, WB studio
AT&T CEO Says He Won't Sell CNN in Time Warner Bid
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AT&T Inc. is ramping up preparations to fight the U.S. Justice Department in court if the agency sues to block the $85.4 billion acquisition of Time Warner Inc., according to people familiar with the matter.
AT&T is instructing its legal team to prepare for a possible court battle on growing concerns that antitrust division chief Makan Delrahim wants the telecommunications giant to divest assets, said the people, who asked not to be identified discussing private information. The timing of the deal, originally expected to close by the end of the year, is now uncertain, AT&T Chief Financial Officer John Stephens said Wednesday.