According to Bloomberg, AT&T CEO Randall Stephenson floated the idea of selling CNN when he met with US antitrust officials last year in an attempt to head off a government lawsuit challenging the company’s proposed takeover of Time Warner, according to a deposition.
During a November meeting with the Justice Department’s antitrust chief, Stephenson raised the possibility of selling CNN, reported Bloomberg.
Stephenson recounted the exchange during a deposition before the government’s lawsuit seeking to block the deal went to trial. Stephenson has disputed he ever offered to sell CNN to resolve the government’s concerns about the proposed merger.
According to a transcript obtained by Bloomberg, he was questioned by a Justice Department lawyer about the meeting with Delrahim.
“And during that meeting, you raised the subject of CNN?” the Justice Department lawyer asked.
“I did,” Stephenson said.
“OK. And you were the first one to raise the subject of CNN?”
“Oh, yeah,” said Stephenson, who went on to say, “I asked Mr. Delrahim, I think my language, this will be pretty close: ‘If I were to walk in here tomorrow and tell you I had gotten my head around selling CNN, would that allow you to wave this deal through?’ And he said, unequivocally, ‘No.’”
Full Content: Bloomberg
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Redfin Settles $9.2M Commission Inflation Lawsuits
May 7, 2024 by
CPI
DOJ Supports Colorado’s Efforts to Block Kroger-Albertsons Merger
May 7, 2024 by
CPI
Japan Considers Regulation of AI Developers
May 7, 2024 by
CPI
European Commission Extends Decision Deadline for Ita-Lufthansa Merger
May 7, 2024 by
CPI
UK, US and Australia Sanction Senior Leader of LockBit Cybercrime Gang
May 7, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI