AT&T won approval Tuesday of its $85 billion bid for Time Warner, a decision that could pave the way for more mega-deals in the media industry.
A U.S. judge ruled the Justice Department did not sufficiently show that a tie-up would stifle competition or harm consumers. He also tried to dissuade the government from appealing his decision.
The merger of the two companies, announced in October 2016, was closely watched by other media and telecom companies with ambitions to cross over.
Internet providers and cable distributors are looking for new revenue sources to compete with streaming content companies such as Netflix and Amazon.
But the government has been skeptical of the consolidation of content and delivery. The Justice Department sued to block AT&T's deal last November, citing concerns over the telecom company owning both DirecTV and Time Warner.
Tuesday's ruling in favor of AT&T could preclude similar arguments to block mergers down the road.
The cable TV giant Comcast said earlier this week it would submit an all-cash bid as early as Wednesday to buy assets from 21st Century Fox if the AT&T acquisition was approved.
Comcast's bid for Fox could upend Disney's offer, and send that company looking for another target.
Shares of Comcast, Disney, and AT&T were all down after the judge's ruling. Fox and Time Warner stock were rising.
An AT&T spokesman said the company is "gratified" by the decision. The deal is expected to close by June 20.
Americans' credit card debt reached a record high in the third quarter.
Target announced that it's rolling out a pre-set meal to feed up to four people for under $25.
You might already be planning your Thanksgiving menu as the holiday approaches. Some retailers are offering deals that could help your pockets as you budget for those large family gatherings.
Management employees who work for AT&T are now being offered paid time off to care for their loved ones.
Jade Warshaw, personal finance expert and co-host of 'The Ramsey Show, joined Cheddar News to provide tips on how to save on engagement rings and to look at cheaper alternatives.
As the country watches the financial situation and monitors decisions from the Federal Reserve, many may be re-evaluating what to do with their money, with interest and mortgage rates at some of the highest levels seen in decades. Mark Hamrick, Washington bureau chief and senior economic analyst with Bankrate, joined Cheddar News to provide tips on your money management as monetary policy continues to change.
A Dutch recruitment firm found that only 42% of employees who have been laid off this year actually received severance, down from 64% who received severance in 2021.
Direct deposit delays due to a human error that happened last week have resulted in some customers still not receiving their paychecks.
Nestle is reportedly investing $100 million in food delivery startup Wonder Group.
Arturo Béjar testified before a Senate subcommittee on Tuesday about social media and the teen mental health crisis, hoping to shed light on how Meta executives, including Zuckerberg, knew about the harms Instagram was causing but chose not to make meaningful changes to address them.
