All eyes were on AT&T’s proposed acquisition of media giant Time Warner during AT&T’s 2018 first quarter earnings call, an $85 billion deal currently tied up in federal court as the Department of Justice opposes the acquisition, maintaining that the merger could result in price hikes for consumers.
Both AT&T and the DoJ are wrapping up their respective arguments in a trial on the case and closing arguments are expected to start April 30.
“We optimistically wait for the court’s decision … Based on the ruling, we stand ready to close,” John Stephens, AT&T’s senior executive vice president and CFO, told investors during the carrier’s earnings call Wednesday evening.
