x PhoneArena is hiring! News writer

AT&T gets approval to buy Time Warner for $85 billion; deal tentatively closes June 20th (UPDATE)

AT&T gets approval to buy Time Warner for $85 billion; deal tentatively closes June 20th (UPDATE)
AT&T has just increased its standing as a media giant after U.S. District Judge Richard Leon's ruling today that paves the way for the company to complete its purchase of Time Warner for $85 billion. The transaction will close on June 20th and makes AT&T the new owner of CNN, HBO, TNT and TBS. It also gives the company ownership of the iconic Time Warner movie studio and a large inventory of film titles including the Batman and Harry Potter series.

UPDATE: The DOJ has decided not to appeal the approval of the AT&T-Time Warner merger and will no longer challenge the transaction.

The deal was first announced in October 2016, and immediately then candidate Donald Trump said that if he won the election, he would block the deal. At the time, Trump said that the transaction would result in "too much concentration of power in the hands of too few."  The Justice Department filed suit in November of last year.

Judge Leon's decision is sure to open the doors to more mergers involving media companies as content continues to drive the ISP and the wireless industries. Comcast is expected to bid for some of Twenty-First Century Fox Inc. assets as soon as tomorrow. Considering that Disney has already bid for the same assets, a bidding war is is at hand. Other deals between carriers and content providers seem likely to be announced now that the court has rubbed the genie's lamp.

The Judge's ruling included a message to the government. Stating that the Justice Department failed to meet its burden of proof, he denied any attempt by the DOJ to stay his opinion during appeal, saying that it would be "unjust." He also warned that the government might try to find a way around the courts to block the deal. The government tried to prove that allowing the transaction would result in less competition for streaming services and would block other companies from having access to HBO. AT&T argued that it needed to complete the merger to compete against media behemoths like Netflix and Amazon.

Notably, the ruling does not require AT&T to divest any assets of Time Warner to complete the transaction.

source: CNN, Reuters

FEATURED VIDEO

23 Comments

darkkjedii

Posts: 30341; Member since: Feb 05, 2011

AT&T killing it.

RevolutionA

Posts: 355; Member since: Sep 30, 2017

Great deal completed. But it's nothing related to mobile

Venom

Posts: 2543; Member since: Dec 14, 2017

Well AT&T is a mobile operator.

RevolutionA

Posts: 355; Member since: Sep 30, 2017

Hmm. But not a manufacturer. So basically nothing for End user.

Foxgabanna

Posts: 552; Member since: Sep 11, 2016

Yes it does. I would imagine this allows all their customers to stream all this new content they got on their phones. AT&T making boss moves with the best coverage!

DH1123

Posts: 4; Member since: Jun 13, 2018

It allows them to add channels to DirecTV Now. Their OTT streaming service.

sgtdisturbed47

Posts: 944; Member since: Feb 02, 2012

Not the best coverage where I'm at, fortunately.

darkkjedii

Posts: 30341; Member since: Feb 05, 2011

You really need to research, before speaking. It ties directly into streaming packages for mobile devices dude. SMDH.

Venom

Posts: 2543; Member since: Dec 14, 2017

So now AT&T literally owns Batman and Superman.

Gcombs

Posts: 136; Member since: Aug 22, 2011

And Harry Potter

BLUEBLASTER

Posts: 896; Member since: Feb 23, 2014

Don't forget Martha.

wtmana

Posts: 55; Member since: Nov 27, 2013

They bought directv and now time warner. Monolopoly is on the way.

DH1123

Posts: 4; Member since: Jun 13, 2018

They bought the content, not the cable provider.

Tziggy14

Posts: 606; Member since: Sep 02, 2014

Ma Bell is coming back

Huh101

Posts: 20; Member since: Feb 10, 2017

Now every AT&T mobile device will come pre-loaded with HBO and CNN.

Gcombs

Posts: 136; Member since: Aug 22, 2011

In a business point of view this is a great deal for AT&T because 1st and for most they are a wireless company but they are trying to entice more customers by offering other services such as their U-Verse cable and internet service but the problem with those services is that they’re in select markets. By purchasing Time Werner that gives them more markets and don’t have to spend the money to run fiber. Also having DirecTV and DirecTV Now I can only imagine what they are going to do to attract new customers.

Rager722

Posts: 562; Member since: Jan 30, 2013

Isn't Time Warner spectrum now though? So did they get approval to not spectrum?

DH1123

Posts: 4; Member since: Jun 13, 2018

They didn't buy time Warner Cable. They bought the media group. They don't get any more area or customers. They get channels and the their library.

Toyoman24

Posts: 34; Member since: Aug 31, 2017

HAAA give it 50 years and Disney will own everything

releasedate

Posts: 8; Member since: Feb 19, 2016

Guess whose bill is going up to pay for this?

torr310

Posts: 1592; Member since: Oct 27, 2011

huh? What's the update?

Rampage_Taco

Posts: 959; Member since: Jan 17, 2017

That's what I came looking for, perhaps someone noticed a grammar mistake and by fixing it the article "updated"

jbreault

Posts: 36; Member since: Mar 04, 2012

wait till 5G Rolls out next year and all this media buying up will pay off they will be able to beam it to your house watch out cable companies

Latest Stories