US regulators require Time Warner to sell off CNN for AT&T to acquire it (report)

As has been reported, Time Warner may be required to sell CNN in order for the Department of Justice antitrust to approve the sale of Time Warner to AT&T.

But AT&T doesn’t want CNN sold off, the Financial Times reports. In fact, they plan to take the Trump administration to court over the proported decision, “arguing the deal with Time Warner does not pose any competition violations.”

“It’s all about CNN,” said a FT source with direct knowledge of the talks between the company and the DOJ, adding that the regulator made it clear to AT&T that if it sold CNN the deal would go through.

According to the FT report, the CNN divestiture is one of two demands the DoJ has made, according to another person with knowledge of the discussions. The demands are “completely unreasonable” and “a complete perversion of the guidelines of the law,” the person said.

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