AT&T is giving itself a few more months to close its US$85 billion acquisition of Time Warner.
The Dallas telecommunications giant extended the deadline for the merger to April 22, according to a filing with the Securities and Exchange Commission. It’s the second time the company has extended the deadline, which was originally set for October 22.
Standing in the way of the AT&T-Time Warner deal is the US Justice Department, which has sued to block the combination, citing antitrust concerns. AT&T has vowed to fight the agency in court and believes it has legal precedent on its side.
The deal was supposed to complete AT&T’s transformation from a simple provider of phone and internet services into an entertainment powerhouse, with a collection of media assets like HBO, CNN and TBS, and franchises such as “Game of Thrones,” “Westworld” and “Justice League.”
Full Content: Variety