A federal judge approved Tuesday AT&T’s massive, unprecedented merger with Time Warner, dismissing the government’s claim that the $85.4 billion deal violates federal anti-trust law, the New York Times first reported.
The merger, which will bring brands such as HBO, CNN, and Warner Bros under the control of one telecom giant, is expected to set off a wave of similar deals among giant corporations eager to merge with companies that are not direct competitors but operate in a related space.
The ruling deals a blow to the Justice Department and its antitrust chief, Makan Delrahim, who broke with decades of precedent in challenging the deal. Delrahim demanded that the firms sell off major properties before merging and subsequently filed suit in November when executives refused his offer.
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