Yesterday it was reported was later disputed but never completely disproven. Now Reuters has reported that the Justice Department plans to sue AT&T to prevent it from buying Time Warner. According to the Justice Department, the sale could be a “major antitrust matter.”
Now AT&T has replied to the DOJ lawsuit with an official statement:
“Today’s DOJ lawsuit is a radical and inexplicable departure from decades of antitrust precedent. Vertical mergers like this one are routinely approved because they benefit consumers without removing any competitor from the market. We see no legitimate reason for our merger to be treated differently.”
“Our merger combines Time Warner’s content and talent with AT&T’s TV, wireless and broadband distribution platforms. The result will help make television more affordable, innovative, interactive and mobile. Fortunately, the Department of Justice doesn’t have the final say in this matter. Rather, it bears the burden of proving to the U.S. District Court that the transaction violates the law. We are confident that the Court will reject the Government’s claims and permit this merger under longstanding legal precedent.”
Clearly, AT& T plans to fight this lawsuit with the hopes of still buying Time Warner. So now all we can do is wait and see what the courts will rule but it is very likely this case could drag on for some time.
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