Judges OK $81 billion AT&T, Time Warner merger

February 26, 2019

CBS News,

A federal appeals court has blessed AT&T’s takeover of Time Warner, defeating the Trump administration by affirming that the $81 billion merger won’t harm consumers or competition in the booming pay-TV market.

The ruling by the U.S. Court of Appeals in Washington came Tuesday in the high-stakes competition case, approving one of the biggest media marriages ever.

It was already completed last spring soon after a federal trial judge approved it, as phone and pay TV giant AT&T absorbed Time Warner, the owner of CNN, HBO, the Warner Bros. movie studio, “Game of Thrones,” coveted sports programming and other “must-see” shows.

Many observers had expected the decision favorable to AT&T from the three-judge appeals court panel, which upheld the trial judge’s June ruling.

AT&T-Time Warner merger will change media landscape

It was not clear Tuesday whether the Justice Department intended to appeal the appellate court’s decision.

“While we respect the important role that the U.S. Department of Justice plays in the merger review process, we trust that today’s unanimous decision from the D.C. Circuit will end this litigation,” David McAtee, AT&T’s general counsel, said in a statement.

“The merger of these innovative companies has already yielded significant consumer benefits, and it will continue to do so for years to come,” McAfee said.

— This is a developing story.