A federal judge said today that AT&T's $85.4 billion purchase of Time Warner is legal. The decision clears the path for a deal that gives the pay-TV provider ownership of cable channels like HBO and CNN as well as film studio Warner Bros.
Our Telecom analyst Paul Glenchur long argued that the deal would get done, despite several forces which seemed to be working against the merger. Below is a clip from February where Glenchur explained why the deal would ultimately get approved.
U.S. District Court Judge Richard Leon did not impose conditions on the merger's approval. Time Warner (TWX) shares jumped 5% after the bell.
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