Deals
Time Warner Drops as AT&T CFO Says Deal Timing Is Uncertain
- Continued discussions with Justice Department slow the process
- Closing once expected last month may not happen this year
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Time Warner Inc. fell after an AT&T Inc. executive hinted that their $85.4 billion merger may not close before yearend as talks with U.S. regulators continue.
The review of the deal, which is poised to make AT&T one of largest media giants in the world, is in late-stage talks. But the process has slowed as the Department of Justice’s new antitrust chief takes a hands-on role in the review, people familiar with the matter said last week.