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
Four months after Apple stopped selling the iPhone SE, the beloved device has made a sudden return to Apple's online store.
Apple is offering the iPhone SE with 32GB of storage for...
Apple today uploaded a new series of iPad Pro videos to its YouTube channel, showing off the different features and capabilities of the new devices.
There are five videos, focusing on taking...
So you've been using an iPhone for years now and think you have it all figured out? Don't be so sure. We've gathered up 7 tricks obscure enough that even the most seasoned iPhone user is...
Apple in January launched Smart Battery Cases designed for the iPhone XS, XS Max, and iPhone XR. The Smart Battery Cases are designed to add additional battery life to Apple's newest iPhones.
...
Apple and Qualcomm are embroiled in a bitter legal battle over licensing and royalty fees that's lasted for two years now and has led to the breakdown of the relationship between the two...
Apple has been ordered to stop using a part of a recent press release that claimed the iPhone 7 and iPhone 8 would still be available in Germany through carriers and resellers, reports Bloomberg.
...
With support for the now-discontinued Windows 10 Mobile devices set to end on December 10, 2019, Microsoft is recommending that its current Windows 10 Mobile customers move to an Android or iOS...
AAPL shares are currently trading above the $157 mark on the intraday market, recouping virtually all losses incurred since Apple CEO Tim Cook slashed Apple's revenue guidance by up to $9...
