News Worms
News Worms

AT&T CEO says open to litigation on Time Warner deal

AT&T on Thursday named Kirk McDonald the chief marketing officer of a new advertising and analytics unit it has set up to work with the new Time Warner properties.

The company has opposed divesting assets and has told the government it is willing to fight in court to win approval, sources said on Wednesday.

A lot of different options are on the table for how to proceed, Justice Department officials said.

Before he was nominated by Trump, Delrahim had briefly delved into the AT&T-Time Warner deal in a television interview, telling Canada's BNN in October 2016 that "from a technical standpoint, I think these folks would have an easier route toward approval than a merger of two competitors", he said.

Shares of Time Warner fell about 6 per cent to $89.00, while AT&T shares fell 0.2 per cent before climbing 1.16 per cent to $33.46. Opponents are pushing for conditions that would limit AT&T's ability to charge media rivals higher prices to carry Time Warner content. "Beyond that, the Department does not comment on any pending investigation".

The Justice Department has been reviewing the merger since early this year.

AT&T CEO Randall Stephenson, in an on-stage interview in NY, said he had no reason to believe a "Trump factor" was influencing or interfering in the review.

If AT&T and Justice cannot agree to conditions, the Justice Department can sue to block the purchase - something looking more likely.

Halting the deal between AT&T and Time Warner would require regulators to prove that previous mergers had resulted in worse service for consumers and that shedding assets would be better than behavioral remedies.

The Justice Department is supposed to make merger reviews based exclusively on antitrust law.

A Department of Justice official told ABC News that AT&T offered to sell CNN as part of the deal.

Trump assailed the merger on the campaign trail, saying the tie-up would concentrate media power.

Time Warner is an industry heavyweight that owns Warner Bros movie studio, the cable channel HBO, and Turner Broadcasting.

Senator Elizabeth Warren, a Massachusetts Democrat who delayed Delrahim's confirmation for weeks, asked the antitrust chief last month to recuse himself from the review because of those comments.

One Justice Department source told CNBC that the idea of shedding CNN to complete the deal originated with AT&T, a contention that drew an immediate denial from the Dallas-based firm.

But she also said its review should be free from White House influence.

However, he stated that the company was unconcerned with the amount of time spent on the issue. Until now negotiations with the companies had focused on conduct remedies, according to one of the people.

"Any political interference in antitrust enforcement is unacceptable", she said. "The Justice Department appears to be doing its job", he said in a statement.


editors' picks

November 10, 2017
Court denies Ezekiel Elliott appeal, suspension upheld
The NFL handed down Elliott's suspension August 11 after a yearlong investigation into accusations of domestic violence in Ohio. The NFL Players Association has reportedly told ESPN that Elliott will not play "while we argue".

November 10, 2017
UCLA players arrested in China still waiting for official investigation
The UCLA Bruins are in China for its season-opener against Georgia Tech Yellow Jackets on Saturday, Nov. 11 in Shanghai. UCLA has already determined that the Ball, Hill and Riley will not play in the game.

November 09, 2017
Syria to join Paris climate pact, leaving USA only nation left out
This makes the United States the only country on the planet not a part of the climate deal. The WMO also said 2017 will be the hottest non-El Niño year ever recorded.

November 09, 2017
Suns Deal Bledsoe To Bucks
In three seasons with Milwaukee, Monroe averaged 13.3 points, 7.6 rebounds and 2.2 assists over 165 games (67 starts). Phoenix, rebuilding with an extremely young roster featuring Booker and T.J.

November 09, 2017
Apple will create a augmented reality headset
As for input, the company is allegedly experimenting with touch panels, voice activation serviced by Siri and head gestures. It will then be left with around a year to fine-tune, test and tweak the headset before a public unveiling in 2020.

November 09, 2017
OnePlus 5T set to launch: What rumours have to say
A few days back, a leaked image revealed the front and back of the device . "Until then, we'll stick to Dash Charge ", wrote Lau. The front facing camera is expected to be 20MP shooter, but the rear dual-camera is expected to be same 16MP + 20MP shooter.

November 09, 2017
Congress grills former Equifax, Yahoo CEOs over identity data breaches
All 3 billion of Yahoo's users as of 2013 were affected by the hack, which the company only became aware of in December 2016. That includes a credit-monitoring app that will be available in January, and free credit locks from the company.

November 09, 2017
Jennifer Aniston & Reese Witherspoon's TV Series Just Found a Home & It's
Brian Stelter's book Top of the Morning will reportedly provide background material, with Stelter himselve acting as a consultant. Apple has been all-but-officially interested in the show since it hit the market this summer (so, reportedly, was Netflix ).

November 09, 2017
Call of Duty: WW2 Makes $500 Million in First Weekend
Have you picked up Call of Duty: WWII yet? It is also the fastest-selling COD game of this console generation (via ) over its four predecessors that were available on PS4, Xbox One, and PC.

November 09, 2017
A New Label For Harry Potter Games Has Been Announced
There has also been information that there will be new games for both console and mobile in the near future. Niantic Labs ( Pokemon Go! ) and Warner Bros. are joining forces to create Harry Potter: Wizards Unite .