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Justice Department wants AT&T to sell CNN before Time Warner merger, according to report

  • The Department of Justice wants AT&T to unload CNN before it can complete its $84.5 billion acquisition of Time Warner, according to a report Wednesday.
  • AT&T announced its intention to buy Time Warner, which owns HBO, CNN and Warner Bros.
  • “It’s all about CNN,” one person with direct knowledge of the talks between the company and the DOJ told the paper, adding that the regulator made it clear to AT&T that if it sold CNN the deal would go through.
  • AT&T opposes offloading CNN and plans to take the Trump administration to court if it moves to block the deal.
  • But a Justice Department official told CNN Wednesday that AT&T had offered to sell the network off to help the sale go through — which the company flatly denied.

The Department of Justice reportedly wants AT&T to unload CNN before it can complete its $84.5 billion acquisition of Time Warner.

The Department of Justice wants AT&T to unload CNN before it can complete its $84.5 billion acquisition of Time Warner, according to a report Wednesday.

Selling off the cable news network that President Trump constantly derides as “fake news” is one of the demands being made by the U.S. antitrust authority before it signs off on a deal that could reshape the landscape of both the media and telecom industries.

AT&T announced its intention to buy Time Warner, which owns HBO, CNN and Warner Bros. Studios, last year.

The CNN sale is just one of the demands being made by the DOJ, according to the Financial Times. The agency told AT&T it could either sell Turner Broadcasting, which includes CNN, or DirectTV. The newspaper cited three individuals “with direct knowledge” of the discussions.

AT&T reaches deal to buy Time Warner for $80 billion

“It’s all about CNN,” one person with direct knowledge of the talks between the company and the DOJ told the paper, adding that the regulator made it clear to AT&T that if it sold CNN the deal would go through.

During last year’s presidential campaign, Trump said he opposed the merger, citing his displeasure with CNN as part of his reasoning, and vowed that the Justice Department would block it.

AT&T opposes offloading CNN and plans to take the Trump administration to court if it moves to block the deal.

Justice Department wants AT&T to sell CNN before Time Warner merger, according to report

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