Amid antitrust concerns over a potential merger between AT&T and Time Warner, a controversy has erupted over whether AT&T would have to sell off CNN to sidestep those concerns.
According to U.S. Department of Justice officials, AT&T offered just days ago to divest from CNN and later sell the news network. But the chairman and CEO of AT&T suggested otherwise.
The government's reservations about the deal stem from the effects of combining AT&T's distribution platforms, including satellite television provider DirecTV, and the wide catalog of content under the Time Warner umbrella, such as Turner Broadcasting, CNN's parent company. On Monday, the Justice Department says it met with AT&T to discuss the matter.
We need less of these 24hrs. I think this news spells trouble for CNN.
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