The Justice Department is reportedly going to appeal the AT&T-Time Warner merger


randall stephenson AT&T att

The US Justice Department is set to appeal the $85 billion merger between AT&T and Time Warner, Bloomberg says, citing a court filing.

The deal, which has been nearly two years in the making, was approved by federal judge Richard Leon just one month ago. It closed just days later, but the Justice Department was given 60 days to appeal the ruling.

The deal’s approval was closely watched by an industry in the midst of consolidation, and led to Comcast making a $65 billion bid for 21st Century Fox’s assets. That bid was later topped by Disney, who offered $71.3 billion.

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Source:: Business Insider

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