AT&T chief: DOJ's Time Warner suit pushes law past "breaking point"

AT&T CEO Randall Stephenson, left, listens as Trump speaks at the White House. Photo: Evan Vucci / AP

AT&T's CEO Randall Stephenson said Monday night that the telecom giant is ready for a war with the Department of Justice over the agency's lawsuit to block his $85 billion acquisition of Time Warner. "The government has filed a lawsuit and it stretches the very reach of antitrust law beyond the breaking point," he said.

The bigger picture: The legal battle is going to be closely watched for what it tells other companies and the public about the climate for big mergers.