AT&T TO CLOSE DEAL FOR TIME WARNER, U.S. MAY STILL APPEAL
The U.S. government and AT&T Inc. agreed on Thursday on conditions that would allow the wireless company to close its deal for
Time Warner Inc. while the Justice Department considers an appeal. In a joint filing, the two sides agreed to certain conditions and asked a federal judge to authorize the companies to close their US$85-billion merger. The government has 60 days to appeal.
AT&T said it could close the deal as early as this week. Among the conditions, AT&T agreed to manage the Turner networks separately from the rest of AT&T Communications and to have no role in setting Turner’s prices. The deal is seen as a turning point for a media industry that has been upended by companies like Netflix Inc and Alphabet Inc’s Google.