In Court, AT&T Chief Attacks Lawsuit to Block Time Warner Merger
AT&T’s chief executive, Randall Stephenson, attacked the Justice Department’s lawsuit to block its merger with Time Warner, saying that a combined company would be no different from the Silicon Valley giants that make and distribute video content. As the last witness for the defense in the Justice Department’s legal battle against AT&T’s $85.4 billion deal to buy Time Warner, Stephenson portrayed the 140-year-old phone giant as being in an existential crisis and in need of the deal with Time Warner to compete against tech companies.