Feds demand sale of CNN for merger, AT&T says no

(CNBC) — AT&T has “no intention” of selling CNN despite the Justice Department’s demand the company sell it in order to approve the Time Warner acquisition, according to CEO and chairman Randall Stephenson.

“Until now, we’ve never commented on our discussions with the DOJ,” Stephenson said in a statement. “But given DOJ’s statement this afternoon, it’s important to set the record straight. Throughout this process, I have never offered to sell CNN and have no intention of doing so.”

The Justice Department told CNBC it wants AT&T to sell Turner Broadcasting, which includes CNN, or DirecTV as condition for approval of the $85 billion AT&T-Time Warner deal.



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