DOJ Challenges AT&T's $85.4B Bid For Time Warner

Law360, New York (November 20, 2017, 5:00 PM EST) -- The U.S. Department of Justice sued Monday to block AT&T Inc.'s $85.4 billion deal for Time Warner Inc., arguing that the combination of the telecom company's DirecTV television provider with the owner of key content like CNN and HBO would lead to higher prices for consumers and hinder innovation for video distribution.

In addition to higher prices, the DOJ is also concerned AT&T and Time Warner could use their increased power "to slow industry's transition to new and exciting video distribution models," an official said. (AP) The DOJ filed a lawsuit in Washington, D.C., federal court seeking an injunction to stop the transaction...

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