Media Consolidation: United States v. AT&T and Implications for Future Transactions [June 29, 2018] [open pdf - 437KB]
"On June 12, 2018, the U.S. District Court for the District of Columbia (D.C. District Court) ruled that the proposed merger of AT&T, Inc. (AT&T) with Time Warner Inc. (Time Warner) could proceed without conditions, after one of the most closely watched antitrust trials in recent memory. The companies announced their intent to merge in October 2016. After examining the transaction for over a year, the Department of Justice (DOJ) challenged the proposed merger in November of 2017, arguing that consolidation of AT&T, a communications and satellite television provider, with Time Warner, a programming aggregator, would substantially lessen competition in violation of Section 7 of the Clayton Act (15 U.S.C. § 18). The court, after conducting a six-week trial examining the evidence, held that the government had not met its burden of proof under Section 7. The AT&T/Time Warner merger closed on June 14, 2018."
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