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US Sues to Stop AT&T’s Takeover of Time Warner

The U.S. Justice Department is suing to stop AT&T’s multi-billion dollar bid to take over another communications giant, Time Warner, calling it illegal and likening it to extortion. “The $108 billion acquisition would substantially lessen competition, resulting in higher prices and less innovation for millions of Americans,” a Justice Department statement said Monday. “The combined company would use its control over Time Warner’s valuable and highly popular networks to hinder its rivals by forcing them to pay hundreds of millions of dollars more per year for the right to distribute…

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