AT&T says timing of Time Warner deal completion now uncertain

The US Department of Justice is pushing AT&T Inc for “structural remedies” in order to satisfy antitrust concerns over its purchase of Time Warner Inc, a source told Reuters on Wednesday.

Structural remedies, which generally involve the sale of assets, represent a greater hurdle for AT&T than merely meeting conditions on what the company can and cannot do after the deal.

The Justice Department's demand may complicate its continuing conversations with AT&T, which said on Wednesday it was now uncertain when the deal would be completed.

Previously, AT&T had said the $85.4 billion acquisition, announced in October 2016, would close by the end of this year.

Shares of Time Warner fell 2.6 percent to $92.18 in early trading while AT&T was down 0.2 percent to $33.01.

The Justice Department and AT&T did not immediately respond to requests for comment.

The deal is opposed by an array of consumer groups and smaller television networks on the grounds that it would give AT&T too much power over the content it would distribute to its wireless customers.