AT&T closes $85 billion deal for Time Warner

By REUTERS
June 15, 2018 04:27
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Breaking news. (photo credit: JPOST STAFF)

 
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WASHINGTON - AT&T Inc, the No. 2 American wireless carrier, on Thursday closed its $85 billion deal to acquire media company Time Warner Inc after US antitrust regulators indicated they would not seek a delay.

The deal, first announced in October 2016, was opposed by President Donald Trump. AT&T was sued by the Justice Department, but won approval from a judge to move forward with the deal on Tuesday following a six-week trial.

The Justice Department still has 60 days to appeal the decision by US District Judge Richard Leon, even though the deal has closed.

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