The suit argues the deal will “substantially lessen competition, resulting in higher prices and less innovation for millions of Americans”. David McAtee, AT&T’s general counsel called the suit “a radical and inexplicable departure from decades of antitrust precedent”. Reports suggested that AT&T, the world’s largest telecommunications company, had offered to sell CNN in order for a deal to go through. Time Warner, owner of CNN, HBO, Warner Brothers and other big-name media properties, does not compete directly with AT&T meaning there is little argument against the deal on competition grounds. But the deal would hand some of the most powerful brands in media to the largest player in telecom.

Source: The Guardian November 20, 2017 22:00 UTC