WASHINGTON, Feb 26 — A US appeals court today upheld a lower court ruling allowing the mega-merger of wireless and broadband giant AT&T with media-entertainment powerhouse Time Warner, rejecting a high-profile effort by the Trump administration to block the deal.
The appellate panel said the government’s case failed to consider “that the industry had become dynamic in recent years” with the emergence of online services such as Netflix and Hulu.
The US$85 billion (RM345 billion) deal brought together AT&T’s wireless and broadband networks and its DirecTV subscription service with the media assets of Time Warner, which include CNN and other Turner cable channels, Cartoon Network, premium channel HBO and the Warner Bros studios. — AFP
