A federal judge set a March 19 start date for a trial in the Justice Department’s challenge to AT&T’s proposed merger with Time Warner. (Variety)
The judge warned the companies he cannot reach a decision by the time their merger agreement expires on April 22. “It’s just not realistic to be done on the 22nd,” U.S. district judge Richard Leon said Thursday during a first preliminary court hearing. (WSJ)
Leon said the trial will last around three weeks and that he expects a decision in late April or May. After the current April 22 cutoff date, AT&T must pay Time Warner a $500 million breakup fee unless the two companies extend the deadline, which they have already done once. (CNN)
AT&T initially sought a February hearing; the Justice Department had angled for May. The $85 billion merger is one of the largest media deals in recent years, signaling the start of more media consolidation as TV businesses have declined thanks to Facebook and Google. (Recode)