The AT&T/Time Warner merger marks the first time in 40 years that a court has decided a fully-litigated challenge to a vertical merger. On February 26, 2019 the D.C. Circuit affirmed unanimously Judge Leon's district court decision holding the Department of Justice Antitrust Division had failed to show that the proposed merger would violate Section 7 of the Clayton Act because it was not likely to substantially lessen competition. Did the court reach the right result and why? What does the decision mean for vertical merger enforcement and analysis moving forward? Are the antitrust agencies likely to issue new vertical merger guidelines? Join us for a discussion about these and other important lessons from the AT&T/Time Warner decision.


Featuring:

Joshua D. Wright, University Professor and Executive Director, Global Antitrust Institute, Antonin Scalia Law School at George Mason University

Jan M. Rybnicek, Senior Associate, Freshfields Bruckhaus Deringer