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Assistant Attorney General Makan Delrahim filed a lawsuit for the United States Department of Justice Antitrust Division to block the merger with Time Warner, saying it "will harm competition, result in higher bills for consumers and less innovation."[39][40] In order for AT&T to fully acquire Time Warner, the Department of Justice stated that the company must divest either DirecTV or Turner Broadcasting System.[41] As of 2017, AT&T is the world's largest telecommunications company.[42] AT&T is also the largest provider of mobile telephone [43] [44] services and the largest provider of fixed telephone services in the United States. [45] On March 7, 2018, the company prepared to sell a minority stake of DirecTV Latin America through an IPO, creating a new holding company for those assets named Vrio Corp.[46][47] However, on April 18, just a day before the public debut of Vrio, AT&T canceled the IPO due to market conditions.[48][49] On June 12, 2018, AT&T was given permission by U.S. District Court Judge Richard J. Leon to go ahead with its $85 billion deal for Time Warner. The DOJ had attempted to stop the merger fearing it would harm competition.[50] The merger closed two days after, becoming a wholly owned subsidiary and division of AT&T with a new name, WarnerMedia, announced the next day.[51] Three months after completing the acquisition, AT&T reorganized into four main units: Communications, including consumer and business wireline telephony, AT&T Mobility, and consumer entertainment video services; WarnerMedia, including Turner cable television networks, Warner Bros. film and television production, and HBO; AT&T Latin America, consisting of wireless service in Mexico and video in Latin America and the Caribbean under the Vrio brand; and Advertising and Analytics, since renamed Xandr.[52][53] By 2019, AT&T had developed partnerships with health care providers to develop mobile health-related connectivity devices that aid inpatient care. Key products include a telemetry device that monitors patient metrics, while toggling between WIFI and cellular connectivity.[54] In September 2019, activist investor Elliott Management revealed that it had purchased $3.2 billion of AT&T stock (a 1.2% equity interest), and had pushed for the company to divest assets to improve its share value.[55] On March 4, 2020, AT&T announced its intent to perform major cost-cutting moves, including cuts to capital investment, and plans to promote AT&T TV (which officially launched nationally on March 2) as its primary pay television service offering. AT&T will still primarily promote DirecTV "where cable broadband is not prevalent", and as a specialty option.[56] On April 24, 2020, AT&T announced that effective July 1, 2020, company COO John Stankey will replace Randall Stephenson as CEO of AT&T.[57] It was also acknowledged that AT&T's acquisitions of DirectTV and Time Warner had by this point resulted in a massive debt burden of $200 billion for the company.[57] AT&T Latin America AT&T Latin America, LLC Formerly AT&T International, Inc. (2017-2018) Type Division ISIN US00206R1023 Edit this on Wikidata Industry Telecommunication Predecessor AT&T Corporation Edit this on Wikidata Founded 2017; 3 years ago Headquarters Dallas, Texas, United States[58] Area served Latin America[show] Caribbean[show] Key people Lori Lee (CEO) Products Wireless
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