AT&T, Time Warner extend merger deadline amid pending DOJ approval

AT&T and Time Warner are extending the deadline for their pending merger as they wait for approval from the Department of Justice. Both companies agreed to an extension “for a short period of time to facilitate obtaining final regulatory approval required to close the merger,” according to a filing AT&T made with the Securities and Exchange Commission on Oct 23.

The $85 billion deal had received approval on Oct 18 from Brazil, one of the last countries AT&T and Time Warner need to complete the deal. The deal has already been cleared by regulators in Mexico, Chile and Europe. AT&T still expects the deal to be completed by the end of the year but is waiting to receive clearance from the DOJ. Experts say the agency is likely to approve the deal because of its proclivity to clear vertical mergers between companies in different industries.