Appeals Court Upholds AT&T's $81B Time Warner Merger
WASHINGTON (CBSDFW.COM/AP) — A federal appeals court has approved Dallas-based AT&T's takeover of Time Warner.
The move defeats the Trump administration's claims 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.
The three-judge panel ruled unanimously in favor of the deal.
AT&T shares were last up 0.2 percent in morning trade.
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