AT&T and Time Warner Merger Approved by Court

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On Tuesday, a federal judge ruled that AT&T's $85.4 billion purchase of Time Warner is legal. This clears a path for the pay-TV provider to gain ownership over cable channels like HBO and CNN, as well as ownership over Warner Bros studio. The judge also did not impose any conditions over the merger's approval.

What does this mean? As Assistant Attorney General Makan Delrahim pointed out, "the pay-TV market will be less competitive and less innovative as a result of the proposed merger." Less competition among companies usually never ends well for consumers.

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