The Department of Justice will not request a stay in the AT & T merger, pending a possible appeal



  Randall Stephenson, president and CEO of AT & T Inc., on the left, talks while Jeffrey & # 39; Jeff & # 39; Bewkes, president and CEO of Time Warner Inc.

Patrick T. Fallon | Bloomberg | Getty Images

Randall Stephenson, president and CEO of AT & T Inc., left, talks while Jeffrey & # 39; Jeff & # 39; Jeff & # 39; Bewkes, president and CEO of Time Warner Inc.

The Department of Justice has agreed to let AT & T complete its purchase of Time Warner, according to joint government submissions, probably clearing the way for the agreement to be complete as early as Friday.

AT & T said in a letter to the Justice Department on Thursday that it will take steps to operate Turner Broadcasting, owner of CNN, owned by Time Warner, as a separate business unit of DirecTV owned by AT & T.

The company said its wireless division, the second largest in the country, "will have no role in setting Turner prices or other terms for unaffiliated distributors" and will implement a "firewall between Turner and AT & T Communications" to avoid misuse of information or pricing

Correction: this story has been modified to clarify that the Department of Justice has waived its option to request a stay to delay the merger of AT & T-Time Warner, which lets close the deal. The Department can still appeal the decision.

This story is unfolding. Check the updates again.

.


Source link

Check Also

Flight officials working to find the cause of technical problems, delays in flights at Charlotte Douglas airport

Charlotte-Douglas Airport (WSOC) Charlotte-Douglas Airport (WSOC) CHARLOTTE, N.C. – More technical problems are affecting flights …