- Brendan McDermid/Reuters
- Mark Cuban thinks the big losers of the DOJ’s decision to sue to block the AT&T-Time Warner merger will be Google and Facebook.
- The DOJ announced Monday that it would sue to block the deal.
Billionaire businessman Mark Cuban on Monday said he thinks Facebook and Google will be “big losers” of the Justice Department’s intention to sue to block the proposed merger between Time Warner and AT&T.
“Their media advertising, content and distribution dominance will be a defense at trial,” Cuban tweeted Monday. “That could create bigger issues for them.”
The DOJ announced hours earlier that it is suing to block AT&T’s proposed $84.5 billion takeover of Time Warner. The antitrust lawsuit announcement followed weeks of speculation that included reports the DOJ demanded AT&T and Time Warner sell Turner Broadcasting, which includes CNN.
AT&T’s CEO Randall Stephenson, however, has countered that notion and said he was never under pressure to spin off CNN.
Critics of the deal believe it will lead to too much consolidation in the media and telecom industries, but fighting the deal appears to be a tall task for DOJ, as antitrust experts said.
Now the deal is predicated on the approval of a federal judge, unless both sides come to a settlement beforehand.
Cuban, the owner of the NBA’s Dallas Mavericks and star of ABC’s “Shark Tank,” is weighing whether to launch a presidential campaign in 2020.