WASHINGTON (Reuters) - A U.S. appeals court approved wireless carrier AT&T Inc’s deal to buy media company Time Warner on Tuesday, a defeat for the Trump administration which had argued the $85.4 billion merger would mean higher prices for consumers.
AT&T’s second major court victory against the Justice Department sets the stage for the No. 2 wireless carrier to integrate its WarnerMedia business as well as its new Xandr advertising unit.
The deal had been a target of criticism from U.S. President Donald Trump, who opposed it because he saw it helping Time Warner’s CNN unit, which he has accused of broadcasting “fake news.”
The three-judge panel on the U.S. Court of Appeals for the District of Columbia ruled unanimously in favor of the deal. The decision could end a 15-month effort by the Justice Department to block the deal.
It does have the redeeming feature that it was absolutely ill-considered and the parties I’ll-matched so that it was an abject failure. As some had the prescience to say beforehand - while also noting the insane stupidity of the move.
"You're only given a little spark of madness. You mustn't lose it." - Robin Williams
”Don't look back. Something might be gaining on you.” - Satchel Paige
