AT&T, Time Warner again push back merger deal
AT&T and Time Warner have again pushed back the date that they have to complete their $108.7 billion merger as the Justice Department pursues an antitrust case to block the deal.
According to an SEC filing, the merger agreement is now extended until June 21, at which time either party could terminate the merger if it is not completed.
AT&T announced its bid for Time Warner on Oct. 22, 2016. Having access to Time Warner content would give AT&T a chance to transform itself into a media company that does more than distribute content created by others. Time Warner properties include CNN, TNT and HBO as well as the Warner Bros. movie studio.
Initially, the deal had a termination date of Oct. 22, 2017. But over the course of the year, it became clear that the Justice Department had concerns about its effect on consumers. The companies agreed to extend the deadline to April 22.