U.S. to sue to stop AT&T from buying Time Warner - source

U.S. to sue to stop AT&T from buying Time Warner - source

The U.S. Department of Justice will file a lawsuit aimed at blocking AT&T Inc`s $85.4 billion acquisition of Time Warner Inc , a source familiar with the matter told Reuters on Monday.

AT&T, the No. 2 U.S. wireless carrier, struck a deal in October 2016 to buy Time Warner, which owns the premium channel HBO, movie studio Warner Bros and news channel CNN, in order to compete by bundling mobile service with video entertainment.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Add Zee Business as a Preferred Source