The deal is being closed since 2016.
The US Federal Court has recognized a legal transaction for the purchase of entertainment entertainment conglomerate Time Warner by US -based telecommunications company AT & T for $ 85 billion. Thus, AT & T will receive assets such as Time Inc., Warner Bros. Entertainment, Time Warner Cable, CNN, HBO, TBS, Turner Broadcasting System and The CW Television Network.
The deal was announced as early as 2016 , but during his election campaign, President Trump stated that he would block the deal if he took over the presidency. In his opinion, “such actions destroy democracy.” As a result, the deal was nevertheless blocked by the US Justice Department, saying that in case of approval, AT & T would be a monopolist in the market. Later Trump noted that he did not influence the work of the Ministry of Justice.
According to District Judge Richard Leon, the US Justice Department failed to prove that the merger of the two companies is contrary to the country’s anti-monopoly legislation: “I believe that the government did not fulfill its task. The court ruled in favor of the accused. ”