• Twitter
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Income Insights

AT&T Inc: The Blessing of Low Expectations

By Roger S. Conrad on Jul. 19, 2018

Last week, DOJ announced it would file an appeal of US Circuit Court Judge Richard Leon’s ruling that allowed AT&T Inc (NYSE: T) to merge with Time Warner. This week, it made good on the threat, requesting the District of Columbia Circuit Court of Appeals overturn Judge Leon’s decision on the grounds that he “rejected fundamental principles of economics.”

The DOJ also argues for an expedited schedule on the grounds that “time is of the essence,” since AT&T has only agreed to keep its Turner division separate until February 28, 2019. Apparently missing, however, is an allegation of a clear legal error that’s usually necessary for a successful appeal.

That’s already set off a flurry of speculation about just what the DOJ is up to. The D.C. Circuit in the past has often been a go to court for those seeking a liberal view. Trump appointed justices, however, have been screened for their skepticism of regulation.

Even if the DOJ convinces the D.C. court to make what would be a ground-breaking ruling on vertical mergers, it would face a hard test when AT&T appeals to the US Supreme Court. And that’s even before a newly confirmed Justice Kavanaugh cemented a solidly conservative majority that would almost certainly look ill on the courts essentially making new law on vertical mergers.

Conrad's Utility Investor

Invest Smarter! Join Conrad’s Utility Investor!

What sets renowned income-investing expert Roger Conrad apart from the pretenders? His more than two decades of covering utility stocks and essential services—a wealth of knowledge and experience that you can’t find anywhere else.   

Smart investing. Taking advantage of real opportunities and not fads (and knowing the difference). Finding the companies and stocks that will deliver for the long haul, so investing lets you live instead of investing turning into your life. Roger Conrad has dedicated his career to these principles—and that’s what Conrad's Utility Investor delivers.

Subscribe today for instant access to a treasure trove of investment insight and knowledge, as well as Roger’s exclusive model Portfolios and ratings of more than 200 essential services.



Roger S. Conrad needs no introduction to individual and professional investors, many of whom have profited from his decades of experience uncovering the best dividend-paying stocks for accumulating sustainable wealth. Roger b