The U.S. Department of Justice (DOJ) is appealing a federal judge’s approval of AT&T’s Time Warner acquisition.
Last month, U.S. District Court Judge Richard Leon cleared the $85 billion merger, which the DOJ had sued to block. The DOJ had maintained that the deal would limit competition, leading to higher prices for consumers. The stock and cash transaction was announced in October 2016. Two days after the ruling, AT&T closed the deal, renaming Time Warner as WarnerMedia.
In response to the appeal, David McAtee, AT&T General Counsel, noted, “The Court’s decision could hardly have been more thorough, fact-based and well-reasoned. While the losing party in litigation always has the right to appeal if it wishes, we are surprised that the DOJ has chosen to do so under these circumstances. We are ready to defend the Court’s decision at the D.C. Circuit Court of Appeals.”