AT&T Time Warner merger

Justice Department files appeal of AT&T-Time Warner merger approval

Illustration: Sarah Grillo/Axios

The Justice Department on Monday filed an appeal brief of a judge's ruling that allowed AT&T to buy Time Warner for $85 billion, arguing that the judge failed to properly evaluate how the merger would give AT&T too much leverage over its competition (and why AT&T would be motivated to use that leverage).

Why it matters: The appeal revives questions about whether the Justice Department acted primarily to please President Trump, who has attacked Time Warner subsidiary CNN and the overall transaction.

How to "unwind" a mega-merger

Illustration: Sarah Grillo/Axios

The U.S. Justice Department yesterday said it will appeal a federal judge's ruling that allowed AT&T to acquire Time Warner.

Bottom line: It is technically possible to "unwind" a merger that has already closed, but it's very rare and can become quite messy.