AT&T beat back another effort by the U.S. government to undo its purchase of Time Warner, cementing an $85-billion deal to help it compete with Netflix.
The U.S. Justice Department failed in its effort to stop the combination of AT&T and Time Warner.
The Justice Department failed to establish that a lower-court judge made a clear error when he rejected the government’s case that AT&T should be blocked from buying Time Warner on antitrust grounds. Pending any further appeal, the ruling ends the Trump administration’s attempt to unravel a tie-up the U.S. said would lead to higher prices for pay-TV subscribers around the country.
It was also the first major merger challenge under President Trump, who vowed to oppose the tie-up during the 2016 election campaign and, as president, has attacked Time Warner’s CNN for its news coverage. The appeals court upheld a June decision by U.S. District Judge Richard Leon that the government failed to show that AT&T would be able to raise prices for Time Warner programming sold to competing cable and satellite-TV companies.
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