AT&T Says DOJ Suing to Stop Buy of Time Warner, Calls Move 'Radical'

Plans by DOJ to sue to block AT&T's buy of Time Warner are "a radical and inexplicable departure" from antitrust precedent, AT&T General Counsel David McAtee said Monday. In a statement, he said vertical mergers routinely get approved "because they benefit consumers without removing any competitor from the market" and there's no reason AT&T/TW should be any different. The telco said it will hold a news conference at 5:30 p.m. EST with CEO Randall Stephenson to discuss the litigation.

The company said it's "confident" a U.S. District Court will reject any such suit and allow the deal. Already, parties were reacting for and against the coming court challenge to the takeover.

Justice didn't comment Monday.