AT&T this afternoon announced that it has completed its acquisition of Time Warner, just two days after a U.S. District Court Judge ruled that the merger could move forward.
"The content and creative talent at Warner Bros., HBO and Turner are first-rate. Combine all that with AT&T's strengths in direct-to-consumer distribution, and we offer customers a differentiated, high-quality, mobile-first entertainment experience," said Randall Stephenson, chairman and CEO of AT&T Inc. "We're going to bring a fresh approach to how the media and entertainment industry works for consumers, content creators, distributors and advertisers."The news comes after the United States Justice Department said that it would not seek a stay to stop the merger from happening. The DoJ can, however, appeal the decision if it chooses to do so even after the completion of the merger.
In a statement earlier this week, the DoJ said it believes that the merger between the two companies will make the pay TV market "less competitive and less innovative."
AT&T's purchase of Time Warner had been on hold since November, when the Justice Department filed a lawsuit to put a stop to it based on the argument that it would lead to higher bills and fewer options for consumers.
AT&T's successful acquisition of Time Warner and the judge's ruling in favor of the two companies has already had an impact on the television market, with Comcast moving forward with a $65 billion all-cash offer for Fox's assets.
Tags: AT&T, Time Warner
50 comments
Steve Carell, best known for his stint on "The Office," is joining Apple's morning show drama, where he will star alongside Reese Witherspoon and Jennifer Aniston, reports Variety.
...
Ahead of Apple's October 30th event, respected Apple analyst Ming-Chi Kuo shared some details about what we can expect to see Apple to unveil during the event as well as information on other...
By now, you've probably heard that the iPhone XR features a new technology called Haptic Touch instead of the usual 3D Touch.
Haptic Touch is simply a marketing name for a long press...
This morning reviews for Apple's iPhone XR were released, and among them were The Verge's impressions on the new smartphone. In a section of the review that focuses on the iPhone XR's...
The first round of iPhone XR reviews were published by media outlets this morning. Below we've highlighted some of the key takeaways from around the web ahead of Apple's official iPhone XR...
In the United States and several other countries, the iPhone XR is no longer available for launch day delivery from Apple's online store.
All colors and capacities from all carriers are...
Last week, Apple CEO Tim Cook called on Bloomberg to retract a highly controversial story suggesting Chinese spies planted microchips in the Supermicro server motherboards used in Apple's data...
The Information Technology Industry Council (ITI), a technology lobbying group that represents companies like Apple, Google, Microsoft, Amazon, and Facebook, and more, today released a framework for...
