AT&T closes $85-billion deal for Time Warner, two days after approval

Wireless and broadband colossus AT&T announced the close of its $85 billion merger with media-entertainment conglomerate Time Warner. The news came just two days after a US federal judge approved the deal, delivering a stinging rebuke to President Donald Trump's administration in its first major antitrust court case. "We're going to bring a fresh approach to how the media and entertainment industry works for consumers, content creators, distributors and advertisers," AT&T chief executive Randall Stephenson said in a statement yesterday stating the acquisition was completed. Stephenson noted that the merger comes as the way video is created, distributed and consumed is rapidly changing in an age of streaming digital content to a broad spectrum of internet-linked devices. "The content and creative talent at Warner Bros., HBO and Turner are first-rate," Stephenson said. "Combine all that with AT&T's strengths in direct-to-consumer distribution, and we offer customers a ...

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