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00:00:02
>> The US Justice Department is trying to undo one of the biggest deals in media ever. at&a purchase of Time Warner for more than $85 billion. The DOJ said Thursday it's going to appeal a federal judge's approval of the acquisition, raising the prospect the deal could be undone, less than a month after it closed.
00:00:20
at&t was sued by the Justice Department last year, claiming no one company should control phone, broadband, DirecTV satellite programming and Time Warner's video and movie content. President Donald Trump has been a strong voice against the deal, announced in 2016. More specifically he's zeroed in on news coverage by Time Warner's CNN.
00:00:40
>> at&t is buying Time Warner and thus CNN. A deal we will not approve in my administration, because it's too much concentration of power in the hands of two feuds.>> But, last month, a district judge swept aside arguments from the DOJ and said the fourth-largest deal ever attempted in global media was still legal under anti-trust law.
00:01:05
On Thursday, AT&T CEO Randall Stephenson said the company wasn't surprised the government decided to appeal. However the justice department's filing was only an initial notice, and didn't say on what grounds they plan to challenge the approval. Last month the District Judge said, the government failed to show the deal was harmful to competition.
00:01:24
But one legal expert told Reuters, they could try to argue the judge took an approach in favor of AT&T in the case.