[20180126]IF10526_美国电话电报公司-时代华纳合并概述.pdf

https:/crsreports.congress.gov Updated January 26, 2018AT&T-Time Warner Merger OverviewOn October 22, 2016, AT&T Inc. and Time Warner Inc. announced that they had entered into an agreement under which AT&T will merge with Time Warner. As of September 30, 2017, the total transaction value was about $105.8 billion, including $84.5 billion for the purchase of Time Warner stock, and $21.3 billion for the assumption of Time Warners debt. The U.S. Department of Justice (DOJ) filed a civil antitrust lawsuit in the U.S. District Court for the District of Columbia to block AT&Ts proposed acquisition of Time Warner on November 20, 2017. The trial, overseen by U.S. District Judge Richard Leon, is set to begin on March 19, 2018. Judge Leon said the trial would last about three weeks. The Two Companies AT&T is the largest U.S. multichannel video program distributor (MVPD). It provides programming to subscribers through three subscription services: (1) DIRECTV, a satellite-based service with 20.6 million subscribers, (2) U-Verse, a service that uses the AT&T fiber optic and copper infrastructure and has 3.7 million subscribers, and (3) DIRECTV NOW, an online video service with 787,000 subscribe