AT&T wants to go to court “as soon as possible” to defend its deal with Time Warner, following the Justice Department’s suit to block the merger with the media company.
AT&T attorney Dan Petrocelli said in an interview with CNBC that “there is no credible evidence” that AT&T’s USD 85.4 billion deal poses any threat to industry competition or consumer prices. According to the executive, “if anything, this merger is going to cause people’s cable bills or TV bills to go down, not up.”
“We want to go to court as soon as possible,” he added. Petrocelli also mentioned that the deal “allows Time Warner to hook up with the data that AT&T has, and to use all of that information to give consumers better product — one that is more innovative, one that’s more customized.”
US President Donald Trump said on Tuesday that the AT&T-Time Warner merger is “not good for the country.” During the presidential campaign, Trump said he opposed the merger and would try to block it as it “concentrates too much power in the hands of too few.”