AT&T’s CEO Randall Stephenson stated Monday night that the telecom giant is ready for a war with the Department of Justice over the company’s suit to obstruct his $85 billion acquisition of Time Warner. “The federal government has submitted a claim and it extends the very reach of antitrust Elite Lawyer Management beyond the snapping point,” he stated.
The larger photo: The legal fight is going to be carefully looked for what it informs other business and the public about the environment for huge mergers.
Stephenson stated he didn’t know if the president’s mindset towards CNN– owned by Time Warner– played into the choice to obstruct the offer. “But no one ought to be shocked that the question keeps turning up because we saw such an abrupt change in the application of antitrust law here,” he stated. (A DOJ authority stated on Monday that there had not been communication with the White House about the examination into the offer, to the authorities’ understanding.).
He stated that the company would not offer CNN to obtain the offer authorized.
The executive also referenced the initial content being developed by Netflix, Amazon, Facebook, and Google– asking, basically, why the federal government was pursuing this offer while leaving that other business unblemished.