AT&T Communications is a wholly owned subsidiary of AT&T that focuses on wireline, wireless, digital television, satellite television, and pay television offerings, as well as business solutions. This is the corporate division that was created in 2017 to house all of AT&T Inc.'s Telecommunications and Technology Businesses. Its predecessor company was AT&T Communications.
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History and Information
In October 2016, AT&T announced a deal to acquire Time Warner worth $85.4 billion (including assumed Time Warner debt). The proposed deal would give AT&T significant holdings in the media industry; AT&T's competitor Comcast had previously acquired NBC Universal in a similar bid to increase its media holdings, in concert with its ownership of television and internet providers. If approved by federal regulators, the merger would bring Time Warner's properties under the same umbrella as AT&T's telecommunication holdings, including satellite provider DirecTV.
By the end of July, the company announced that, effective August 1, a new structure was created before the acquisition would close. This structure has John Donovan take the title of CEO of AT&T Communications. In November 2017, the U.S. Justice Department said it was moving to sue to block the AT&T-Time Warner merger. On November 20, 2017, the Department of Justice filed an antitrust lawsuit over the acquisition; Makan Delrahim stated that the deal would "greatly harm American consumers". AT&T asserts that this suit is a "radical and inexplicable departure from decades of antitrust precedent". On December 22, 2017, the merger agreement deadline was extended to June 21, 2018.
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References
Source of article : Wikipedia
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