AT&T Inc on Thursday finished acquiring Time Warner for $85 billion, just two days after the judge approved that the deal does not violate antitrust laws.
AT&T, the well-known and powerful wireless carrier, does not directly complete with the Time Warner she acquired, so many organization and media regard the acquisition as a vertical merger, which will significantly enhance the AT&T’ profession and ability. However, the deal was opposed by President Donald Trump as well as the Justice Department.
First announced in October 2016, the deal was immediately denounced by President Donald Trump, and the Justice Department argued that it would harm consumers and also accused the company. However, U.S. District Judge Richard Leon found little to support this viewpoint, and ruled on Tuesday that the merger was legal under antitrust law.
Randall Stephenson, chairman and CEO of AT&T, said about the deal in a statement “We’re going to bring a fresh approach to how the media and entertainment industry works for consumers, content creators, distributors and advertisers.”