For some time now we have heard the Justice Department was concerned about AT&T's purchase of Time Warner. The Department of Justice has announced a public call concerning a "major antitrust matter", but Bloomberg sources say the Department will be announcing a lawsuit against the proposed merger.
Shares of Time Warner tumbled on November 2, 2017 following a report the Justice Department could move to block the proposed $85 billion takeover of the company by AT&T. Several media outlets reported that the DOJ's announcement would involve AT&T.
While in office, Trump has regularly labelled CNN as "fake news" and in February his son-in-law and senior adviser Jared Kushner met with Time Warner executives and voiced concerns about what the administration considered as slanted coverage from CNN.
(The) (GS) Holdings Raised by IFP Advisors Inc
The Boussard & Gavaudan Investment Management Llp holds 20,398 shares with $1.28 million value, down from 55,844 last quarter. In the most updated research from a number of analysts on Wall Street, the company gets 10 Buys and 2 Sell among 28 analysts.
The Justice Department did not immediately respond to TPM's request for comment.
Reuters reported last week that the Justice Department had approached 18 state attorneys general asking them to join the challenge of the deal, but as of Monday none had publicly agreed to do so.
Time Warner's stock finished down 1.1% at $87.71 while AT&T ended marginally higher at $34.64.