AT&T/Time Warner Deal On Hold
In what was viewed as what could be one the biggest media shakeups of the past decade, AT&T agreed to purchase Time Warner for the hefty price of $85 billion. Now, that deal has been put on hold due to demands set forth by the Department of Justice, which has the right to approve or sue to block mergers of this scale. Consumer groups, various TV networks, and political groups from both sides have criticized the deal, saying it would enable AT&T to raise prices on other cable and satellite TV companies for its programming, hurting consumers. The Justice Department is said to want AT&T to sell off entities of Time Warner, such as CNN, TNT, HBO and others, in order for the deal to be approved with no contest.
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