Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Judges named to hear government's appeal of AT&T Time Warner deal approval

Published 11/06/2018, 01:00 PM
Updated 11/06/2018, 01:00 PM
© Reuters. Coaxial TV Cables are seen in front of AT&T and Time Warner logos in this picture illustration

By David Shepardson

WASHINGTON (Reuters) - A panel of three federal appeals court judges named by former Presidents Ronald Reagan, Bill Clinton and Barack Obama will hear the Justice Department's appeal of a ruling allowing AT&T Inc (NYSE:T) to acquire Time Warner, court records show.

Judges Judith W. Rogers, Robert L. Wilkins and David B. Sentelle will hear arguments on Dec. 6.

The government argues that AT&T’s $85.4 billion acquisition will lead to higher prices for consumers and was illegal under antitrust law, while AT&T says the government offered no basis for second guessing key conclusions of a lower-court ruling allowing the transaction to proceed.

Sentelle, a Reagan appointee, and Rogers, who was named to the bench by Clinton, were among seven appeals court judges in June 2001 that issued an opinion tossing out an order that Microsoft Corp (NASDAQ:MSFT) should be broken up but found that the company possessed monopoly power and agreed that the company had behaved anticompetively.

The company ultimately agreed to a settlement with the Justice Department and an agreement to end retaliation against computer makers who use non-Microsoft software.

Wilkins, who joined the appeals court in 2014 as an Obama appointee, ruled on some antitrust matters as a judge on the U.S. District Court in Washington, including approving a consent decree that allowed Google, now known as Alphabet (NASDAQ:GOOGL) Inc, to acquire ITA Software in 2011.

© Reuters. Coaxial TV Cables are seen in front of AT&T and Time Warner logos in this picture illustration

AT&T agreed in June to temporarily manage Time Warner's Turner networks separately from DirecTV, including setting prices and managing personnel, until any appeals were resolved.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.