Judge approves AT&T, Time Warner merger
by Kiley Crossland
Posted 6/13/18, 11:26 am
A federal judge on Tuesday approved AT&T’s merger with Time Warner, rejecting the U.S. government’s argument that it would hurt competition and force consumers to pay hundreds of millions of dollars more to stream TV and movies. U.S. District Judge Richard Leon announced the ruling on Tuesday, concluding one of the biggest antitrust trials in recent years. The $85 billion merger will allow AT&T to absorb the owner of CNN, HBO, and the Warner Bros. movie studio.
The U.S. Justice Department filed a lawsuit to oppose the merger in 2017, but Leon on Tuesday said the government’s evidence was “too thin a reed for this court to rely on.” The decision will likely clear the way for other major media mergers. Comcast is expected to make a bid for Fox’s entertainment business as early as Wednesday. The Department of Justice said it was reviewing the ruling and considering next steps.
Read more from The Sift Sign up for The Sift email