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U.S. urges judge to reject AT&T/Time Warner court date proposal
U.S. urges judge to reject AT&T/Time Warner court date proposal
U.S. urges judge to reject AT&T/Time Warner court date proposal
The U.S. government on Tuesday urged a federal judge to reject the February court date sought by AT&T (T.N) and Time Warner (TWX.N) in a dispute over the firms’ proposed merger, arguing the companies are rushing to meet an April 22 closing deadline for their $85.4 billion deal.
The U.S. Justice Department last month sued to block AT&T’s planned acquisition of Time Warner, saying the combination could raise prices for rivals and pay-TV subscribers while hampering the development of online video.
AT&T CEO Randall Stephenson had called the companies’ requested court date of Feb. 20 a “reasonable ask.” The government had requested that proceedings start on May 7.
AT&T will have to pay Time Warner $500 million if the merger is not consummated by April 22.
Source:- https://www.reuters.com/article/us-time-warner-m-a-at-t/u-s-urges-judge-to-reject-att-time-warner-court-date-proposal-idUSKBN1E00A2
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