AT&T could likely be “a pitiful, helpless giant” without its $85 billion merger with Time Warner, CNBC’s Jim Cramer said Thursday.
Cramer spoke a day after the Justice Department demanded of which AT&T sell Turner Broadcasting, which includes CNN, or sell DirecTV, as a condition for approval of the deal.
Cramer said the Justice Department “thesis” about the deal is actually flawed.
“This kind of has got to be one of the more arbitrary along with capricious potential prosecutions I’ve seen,” Cramer said.
“I think the Justice Department is actually trying to create some sort of thesis of which This kind of is actually some sort of colossus,” Cramer said on “Squawk on the Street.” “Give me a break.”
Some commentators questioned whether the Justice Department’s demand was political because President Donald Trump has frequently criticized CNN for its coverage.
AT&T chairman along with CEO Randall Stephenson said in a statement he has never offered to sell CNN along with does not have any intention of doing so.
Cramer was also perplexed why the Justice Department could want AT&T to sell DirecTV: “I mean where is actually the antitrust there?”
“One guy has NFL along with the different is actually the beginning part of March Madness. I mean I don’t get of which,” the host of CNBC’s “Mad Money” said.