U.S. urges judge to reject AT&T/Time Warner court date proposal

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U.S. urges judge to reject AT&T/Time Warner court date proposal


2017-12-06 04:01:23

WASHINGTON (Reuters) – 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.

FILE PHOTO: An AT&T logo and communication equipment is shown on a building in downtown Los Angeles, California, U.S. on October 29, 2014. REUTERS/Mike Blake/File Photo

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.

Reporting by Eric Beech; Editing by Tim Ahmann and Christopher Cushing

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