TIME WARNER INC. (NYSE:TWX) Files An 8-K Other EventsItem 8.01. Other Events.
(a) Department of Justice Lawsuit.
On November 20, 2017, the United States Department of Justice (the "DOJ") filed a lawsuit in the United States District Court for the District of Columbia (the "Court") under a federal antitrust statute to enjoin Time Warner Inc.'s ("Time Warner") proposed merger with AT&T Inc. ("AT&T"). Time Warner intends to vigorously contest the DOJ's allegations and is confident that the Court will reject the DOJ's challenge to the merger.
(b) Extension of Termination Date.
In accordance with the Agreement and Plan of Merger, dated as of October 22, 2016 (the "Merger Agreement"), among Time Warner, a Delaware corporation, AT&T, a Delaware corporation, West Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of AT&T, and West Merger Sub II, LLC, a Delaware limited liability company and a wholly owned subsidiary of AT&T, on November 27, 2017, each of Time Warner and AT&T elected to further extend the "Termination Date" of the Merger Agreement to April 22, 2018.
About TIME WARNER INC. (NYSE:TWX)
Time Warner Inc. is a media and entertainment company. The Company operates through three segments: Turner, which consists of cable networks and digital media properties; Home Box Office, which consists of domestic premium pay television and streaming services, and international premium pay, basic tier television services and streaming services, and Warner Bros., which consists of television, feature film, home video and videogame production and distribution. The Company also holds interests in companies that operate broadcast networks. The Company holds interest in Central European Media Enterprises Ltd. (CME), which is a broadcasting company that operates television networks in Bulgaria, Croatia, the Czech Republic, Romania, the Slovak Republic and Slovenia. The Company has a joint venture interest in The CW, which includes a lineup of advertising-supported original programming, as well as a block of advertising-supported programming.