AT&T CEO: DOJ never demanded CNN sale in Time Warner deal

AT&T CEO: DOJ never demanded CNN sale in Time Warner deal

The DOJ's review process is supposed to be independent, though its about-face on the merger has struck even many Democrats who oppose a combined AT&T and Time Warner as suspicious. The official, who was not authorized to discuss the matter publicly, said the department rejected that offer as insufficient to resolve its concerns, which it did not specify. "I do feel you should have as many news outlets as you can-especially since so many are fake".

Previously, the president has blasted AT&T and Time Warner's merger plans - and during the 2016 election he threatened to block the companies from combining under his watch. Opponents are pushing for conditions that would limit AT&T's ability to charge media rivals higher prices to carry Time Warner content. "We are prepared to litigate now", Stephenson told CNBC on the sidelines of the New York Times Dealbook conference.

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If the case goes to court, the Justice Department must prove combining AT&T and Time Warner would cause serious harm to competitors and that a proposed remedy, such as selling an asset like Turner Broadcasting, is necessary to minimize that, said Jennifer Rie, antitrust litigation analyst at Bloomberg. The deal, he said, would put "too much concentration of power in the hands of too few".

The head of the DOJ's antitrust division denied that the White House is involved in the transaction. AT&T shares rose 1.6 percent to $33.97. Obama-era regulators in 2011 approved a similar media merger, cable company Comcast's purchase of NBCUniversal, after Comcast agreed to a slew of business requirements. It would then supply its video - HBO, CNN, TBS and the Warner Bros. movie studio - while providing access to the internet for millions of Americans. The Wall Street Journal has revealed that Kushner was particularly very annoyed with the cable news agency's "fact-checking" during the presidential campaign. He said the company has "very good" prospects of winning in court against the Justice Department. "Beyond that, the Department does not comment on any pending investigation".