Time Warner

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AT&T plans to buy Time Warner for $85.4 billion. (Associated Press)

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AT&T and Time Warner's proposed merger was blocked Monday by the Justice Department.

Dallas Mavericks owner Mark Cuban listens on Capitol Hill in Washington while testifying before a Senate Judiciary subcommittee hearing on the proposed merger between AT&T and Time Warner, Dec. 7, 2016. (AP Photo/Evan Vucci) ** FILE **

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People walk by an AT&T retail store, Monday, Oct. 24, 2016, in New York. AT&T plans to buy Time Warner for $85.4 billion. (AP Photo/Mark Lennihan)

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A statue of Christopher Columbus stands between the towers of the Time Warner building, Monday, Oct. 24, 2016, in New York. AT&T plans to buy Time Warner for $85.4 billion. (AP Photo/Mark Lennihan)

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FILE - This May 14, 2014 file photo shows an AT&T logo on a store in Dedham, Mass. On Saturday, Oct. 22, 2016, several reports citing unnamed sources said the giant phone company is in advanced talks to buy Time Warner, owner of the Warner Bros. movie studio as well as HBO and CNN. AT&T is said to be offering $80 billion or more, a massive deal that would shake up the media landscape. (AP Photo/Steven Senne, File)

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Executive producer Ken Burns attends a preview screening of "Cancer: The Emperor of All Maladies," at the Time Warner Center, in New York in this Tuesday, March 24, 2015, file photo. (Photo by Evan Agostini/Invision/AP, File)

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Dick Parsons, the former Citigroup chairman and former Time Warner chairman and CEO, who was named interim CEO of the Los Angeles Clippers by the NBA league, takes questions during a news conference at the Staples Center in Los Angeles Monday, May 12, 2014. (AP Photo)

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Dick Parsons, the former Citigroup chairman and former Time Warner chairman and CEO, who was named interim CEO of the Los Angeles Clippers by the NBA, takes questions during a news conference at the Staples Center in Los Angeles Monday, May 12, 2014. (AP Photo)

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Dick Parsons, the former Citigroup chairman and former Time Warner chairman and CEO, who was named interim CEO of the Los Angeles Clippers by the NBA league, takes questions during a news conference at the Staples Center in Los Angeles Monday, May 12, 2014. (AP Photo)