World Markets

US appeals court says AT&T deal to buy Time Warner is legal


WASHINGTON, Feb 26 () - A U.S. appeals court upheld on Tuesday a lower court ruling that wireless and satellite TV provider AT&T Inc's deal to buy content maker Time Warner for $85.4 billion was legal under antitrust law.

The three-judge panel on the U.S. Court of Appeals for the District of Columbia ruled per curiam, or unanimously, in favor of the deal, calling the Justice Department's arguments "unpersuasive."

The Justice Department had asked the court to declare the deal illegal, arguing that AT&T, which owns DirecTV, would use ownership of Time Warner's content, such as CNN and HBO's "Game of Thrones," to make pay-TV rivals pay more, thus raising prices for consumers.

AT&T shares were last up 0.5 percent in morning trade.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story


Other Topics

Stocks Economy Technology


Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at and via Reuters TV.

Learn More