Nov 20, 2017

Axios PM

By Mike Allen
Mike Allen
1 big thing: The big Trump antitrust fight is here

"The U.S. Department of Justice is suing to prevent AT&T from completing its proposed $85 billion takeover of Time Warner, throwing the telecom giant's bet on becoming a media powerhouse in jeopardy," Axios' David McCabe reports.

  • Justice Department official to reporters: "Our investigation showed this is an illegal merger that would harm consumers."
  • Why it matters: "Antitrust regulators do not usually oppose so-called 'vertical' mergers like this one, in which one company is buying another against which it doesn't really complete. But it is unclear if the change is philosophical, or related to President Trump's campaign statements against the deal and his subsequent criticism of Time Warner property CNN."

Go deeper: AT&T's statement, and the DOJ's explanation for their case.

Stay tuned: We'll be covering a 5:30pm EST press conference from Time Warner and AT&T.

2. What you missed
  1. Trump will designate North Korea a state sponsor of terror. Details... Tillerson's comments
  2. Angela Merkel in trouble: The German chancellor says she'd prefer a new election to leading a minority government. The latest.
  3. White House on Roy Moore: Kellyanne Conway said we "want the votes in the Senate to get this tax bill through" ... Sarah Sanders told reporters today that Trump wants people who support his agenda.
  4. Today's sexual harassment allegations: Lindsay Menz says Sen. Al Franken grabbed her inappropriately in 2010.The NYT has suspended reporter Glenn Thrush for multiple accusations of sexual harassment.Broadcaster Charlie Rose faces eight new accusations of sexual harassment, three on the record.
3. One big chart

Chinese Internet giant Tencent is the first $500 billion company in Asia.

Next up: China's Alibaba Group currently has a market cap north of $480 billion.

Mike Allen