Friday, 15 June 2018

US telecoms giant AT&T completes its takeover of Time Warner

US telecoms giant AT&T has completed its takeover of entertainment firm Time Warner after winning a court battle earlier this week.

The more than $80bn (£60.34bn) deal, which has been two years in the making, led to one of the largest US anti-trust lawsuits in decades.

But a US district court judge cleared the marriage of the two giants on Tuesday without conditions.

The merger could shake up the US media scene for years to come.

The Trump administration's argument was that the marriage between the two firms would harm consumers.
But AT&T argued it needed to acquire Time Warner to compete with online streaming services like Amazon and Netflix.

It is expected now that more content distribution companies will try to acquire content production companies.

BBC       News.

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