The Wall Street Journal: Justice Department sues AT&T, Time Warner over potential merger

The Justice Department filed a lawsuit Monday challenging AT&T Inc.’s T, +0.38%  proposed acquisition of Time Warner Inc. TWX, -1.14%  , alleging the combination of the two companies poses an unlawful threat to competition that could raise prices and slow innovation.

The companies are expected to fight the lawsuit, a move that would leave the fate of the transaction in the hands of a judge.

AT&T’s deal for Time Warner was valued at $85 billion when it was announced in October 2016, just weeks before the presidential election, as one of the largest media deals ever.

The outcome would determine the success of AT&T’s plans to transform itself into a media giant that combines a far-reaching wireless and video distribution network with such sought-after content as Time Warner’s HBO and its Turner cable networks.

An extended version of this report appears at WSJ.com

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