Business & Financial

U.S. Justice Department agrees to allow AT&T to close Time Warner deal pending potential appeal

Coaxial TV Cables are seen in front of AT&T and Time Warner logos in this picture illustration

Coaxial TV Cables are seen in front of AT&T and Time Warner logos in this picture illustration taken June 13, 2018. REUTERS/Dado Ruvic/Illustration

WASHINGTON (Reuters) – The U.S. government and AT&T Inc agreed on Thursday on conditions that would allow the wireless company to close its deal for Time Warner Inc while the Justice Department considers a potential appeal.

In a joint filing, the two sides asked the judge to authorize the companies to close their $85 billion merger pending the potential appeal.

AT&T agreed, as one condition, to manage the Turner networks separately until Feb. 28, 2019 or the conclusion of the case, according to a court filing.

(Reporting by Diane Bartz and David Shepardson; Editing by Lisa Shumaker)

 

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