The U.S. Department of Justice has lost its antitrust lawsuit to bar the planned AT&T and Time Warner merger, according to Business Insider. Federal judge Richard Leon appoved the $85 billion merger in court Wednesday, nearly two years after the planned deal was announced.
"This decision from Judge Leon will have broad ramifications for the tech, telecommunications and media sector for decades to come," said Daniel Ives, the chief strategy officer at GBH Insights. "This deal will accelerate content and streaming initiatives between Time Warner properties and AT&T and be a major shot across the bow to other cable and wireless players with all these assets under one hood."
While this court case is decided, the U.S. Department of Justice could appeal the ruling.