AT&T buysTime Warner approved
AT&T, which includes various media properties such as DC Entertainment and HBO, after US District Judge Richard Leon on Tuesday declined the Justice Department’s request to block the deal. Leon also didn’t impose any conditions on the deal, giving AT&T and Time Warner what amounts to a total victory in the case.
As long as the big tech is the enemy, companies are pretty much free to buy, sell and trade assets to keep from falling behind. A federal judge said as much when he approved AT&T’s $85.4 billion acquisition of Time Warner.
For AT&T, the ruling marks a huge win in its bid to transform itself into a media powerhouse. In 2015 it purchased satellite TV provider DirecTV for nearly $49 billion.
AT&T applauded the court’s decision. And the company said it plans to close the merger, which was announced a year and a half ago, on or before June 20.