AT&T, Time Warner Move Forward with $85B Merger
AT&T has been given the green light from a federal judge to go forward with its $85 billion merger with Time Warner.
But the Dept. of Justice says its going to review that ruling because the deal gives AT&T control of Time Warner’s massive holdings, like CNN & HBO.
The merger was announced more than a year ago and that’s when presidential candidate Donald Trump vowed to block it.
The Dept. of Justice sued to stop the deal in November as it feared the merger could shape how much consumers pay from streaming movies and TV.
Tuesday a federal judge ruled against the government saying the evidence is too thin to rely on.
AT&T says it needs to take over Time Warner to compete with Google, Amazon & Netflix.