A much-talked about and controversial merger now appears to be a done deal. AT&T bought Time Warner for $85 billion and a federal judge says the deal is perfectly legal.
AT&T will now have ownership of cable channels like HBO, CNN, and TBS along with the Warner Brothers Film Studio. Experts say the merger could plow a path for future vertical mergers where companies buy out suppliers.
The justice department sued last year to block the merger citing concerns that AT&T, which owns satellite television provider DirecTV could charge rival distributors more than time warner content.
That would mean higher prices for customers.