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AT&T receives US court approval to buy Time Warner for $85 billion

Shares of AT&T fell about 1.3% in after-hours trade following the decision

Reuters  |  Washington 

AT&T Inc won court approval on Tuesday to buy Time Warner Inc for $85 billion, rebuffing an attempt by US President Donald Trump's administration to block the deal and likely setting off a wave of corporate mergers. The deal, which could close next week, is seen as a turning point for a media industry that has been upended by companies like Netflix Inc and Alphabet Inc's Google which produce content and sell it online directly to consumers, without requiring a pricey cable subscription. Cable, satellite and wireless carriers all see buying content companies as a way to add ...

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First Published: Wed, June 13 2018. 06:51 IST