Time Warner and AT&T fall following report the government could sue to block their merger (T, TWX)

pulse

November 20, 2017 9:02 PM

Bloomberg News reported on Monday afternoon that the US Department of Justice was prepared to block the companies' proposed merger with an antitrust suit.

Bloomberg News reported Monday afternoon that the US
Time Warner stock closed down 1.12% after the news.
Shares of AT&T fell from earlier highs but still closed up 0.29%.

The news of the antitrust lawsuit follows a contentious period that included reports that the DOJ demanded AT&T and Time Warner sell Turner Broadcasting, the group of channels that includes CNN, in order to receive approval for the deal.

AT&T Chief Executive Officer Randall Stephenson countered those reports by saying he'd never been under pressure from the DOJ to sell CNN.

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