WASHINGTON, DC — A federal judge ruled on Tuesday that AT&T can move forward with its $85 billion acquisition of Time Warner.
Judge Richard Leon of the U.S. District Court for the District of Columbia said at a hearing that he has found, after a six-week trial, that the deal does not violate antitrust law and can proceed.
Leon discouraged the government from asking him to put his own ruling on hold pending appeal, and said that if asked he would deny a stay. “I hope the government has the wisdom and courage” not to seek a stay, he said.
The Justice Department, which had sued to block the purchase, has the option of appealing the decision. According to a scheduling order, AT&T has agreed not to complete the acquisition for six days to allow time for an appeal.
The judge’s ruling will likely be seen by tech and telecom giants as a green light to pursue a slew of major media acquisitions.
AT&T General Counsel, David McAtee, released the following statement:
“We are pleased that, after conducting a full and fair trial on the merits, the Court has categorically rejected the government’s lawsuit to block our merger with Time Warner. We thank the Court for its thorough and timely examination of the evidence, and we compliment our colleagues at the Department of Justice on their dedicated representation of the government. We look forward to closing the merger on or before June 20 so we can begin to give consumers video entertainment that is more affordable, mobile, and innovative.”
