US Court Approves $85Bln AT&T Merger With CNN Owner Time Warner

© Flickr / Thomas BelknapThe cable industry’s recent spout of potty mouth seems to have spread to Time Warner.
The cable industry’s recent spout of potty mouth seems to have spread to Time Warner. - Sputnik International
Subscribe
US
India
Global
WASHINGTON (Sputnik) - AT&T will be allowed to complete its takeover of media giant Time Warner, with a judge dismissing a Trump administration lawsuit to block the merger, a federal judge ruled on Tuesday.

Federal district court Judge Richard Leon issued a ruling that approved the $85.4 billion deal, without any conditions, in a locked courtroom with windows papered over, according to multiple media outlets stationed outside the courthouse.

"We are disappointed in the ruling," Assistant Attorney General Makan Delrahim said in a statement shortly after the ruling.

CNN building - Sputnik International
US Justice Department: AT&T Should Sell CNN to Approve Time Warner Purchase
The Department of Justice had sued to block the merger, claiming the combination would reduce competition and innovation in the market for pay television.

AT&T is known to most Americans as a cell phone service provider while Time Warner owns giant media brands such as the HBO movie channel, the Warner Brothers movie studio and CNN.

Delrahim said the Justice Department remains committed to preserving competition for the benefit of consumers and is reviewing its options.

The Justice Department must now decide whether to allow the merger to proceed or appeal the decision to a higher court.

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала