news 7 months ago

Judge OKs AT&T Merger With Time Warner

Newser — Evann Gastaldo

After a six-week trial, a federal judge on Tuesday said AT&T's $85.4 billion purchase of Time Warner is legal, approving the merger with no conditions, CNBC reports.

The Justice Department sued to block the merger last year; the judge's decision rejects the government's argument that the merger will hurt competition and could result in higher prices for consumers, the AP reports.

Shares of AT&T dropped more than 2% in extended trading, while shares of Time Warner rose almost 5%.

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This article originally appeared on Newser: Judge OKs AT&T Merger With Time Warner