AT&T-Time Warner Merger Gets Green Light

By Paul Riegler on 12 June 2018
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DSC_0441 (2)A federal judge ruled Tuesday that AT&T can proceed with its $85.4 billion takeover of Time Warner.

United States District Court Judge Richard J. Leon said the takeover can proceed without any conditions, dealing a blow to President Trump’s Department of Justice, which had sued to block the deal. The Justice Department had alleged that allowing the two companies to merge would suppress competition in the pay-TV industry.

AT&T applauded the court’s decision.

“We are pleased that, after conducting a full and fair trial on the merits, the Court has categorically rejected the government’s lawsuit to block our merger with Time Warner,” the company said in a statement.

The deal was first announced last October. AT&T plans to close the transaction by June 20.

AT&T is a telecommunications provider best known today for its mobile-phone services, while Time Warner is the owner of media brands such as CNN, HBO, and Warner Bros.

The two companies argued that a fusion would allow them to compete more effectively against companies such as Netflix, Amazon, and Google.

(Photo: Accura Media Group)

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