AT&T and Time Warner extended the deadline to close their merger until June 21, according to a filing with the Securities and Exchange Commission. The action comes as the companies prepare for a trial to defend their $85.4 billion proposed deal before the Justice Department, which filed an antitrust lawsuit, Inside Towers reported.
The original deadline was October 2016; AT&T and Time Warner then extended it to April 22. Their agreement calls for AT&T to pay Time Warner a $500 million breakup fee, if the deal does not go through.
January 3, 2017
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