Time-Warner stock down after DOJ demands CNN to be sold as condition for AT&T deal
DOJ demands AT&T sell CNN for Time Warner acquisition approval, FT reports
51 Mins Ago | 04:16
Time Warner shares were down 6 percent Wednesday after the Justice Department demanded that CNN's parent be sold before a merger with AT&T can be approved.
CNBC confirmed the Justice Department's demand that Turner Broadcasting or DirecTV be sold before approval of the $85 billion merger.
AT&T's stock price was up slightly.
Earlier Wednesday, AT&T's chief financial officer John Stephens said the timing of the deal was "now uncertain."
President Donald Trump has repeatedly criticized CNN as fake news in the past year.
- Time Warner shares are down after the DOJ demanded that CNN's parent company be sold as a condition for the AT&T merger.
- Earlier, AT&T's Chief Financial Officer John Stephens the $85 billion deal was "now uncertain.
DOJ demands AT&T sell CNN for Time Warner acquisition approval, FT reports
51 Mins Ago | 04:16
Time Warner shares were down 6 percent Wednesday after the Justice Department demanded that CNN's parent be sold before a merger with AT&T can be approved.
CNBC confirmed the Justice Department's demand that Turner Broadcasting or DirecTV be sold before approval of the $85 billion merger.
AT&T's stock price was up slightly.
Earlier Wednesday, AT&T's chief financial officer John Stephens said the timing of the deal was "now uncertain."
President Donald Trump has repeatedly criticized CNN as fake news in the past year.