DOJ demands CNN to be sold as condition for AT&T, Time Warner deal approval


Time Warner shares declined nearly 7 percent midday Wednesday after AT&T’s chief financial officer John Stephens said the timing of its merger deal close with the company is “now uncertain.”

The Financial Times later reported the Justice Department told AT&T and Time Warner would need to sell CNN, Time Warner’s cable news network, as a condition in order for the acquisition to go through, according to three people with knowledge of the negotiations.

CNBC has confirmed the Justice Department has asked AT&T to sell Turner Broadcasting, which includes CNN, for merger approval.

President Donald Trump has repeatedly criticized CNN as fake news on his social media Twitter account in the past year.

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