The acquisition of Time Warner is complete, telecommunications giant AT&T announced Thursday.
“The content and creative talent at Warner Bros., HBO and Turner are first-rate. Combine all that with AT&T’s strengths in direct-to-consumer distribution, and we offer customers a differentiated, high-quality, mobile-first entertainment experience,” AT&T’s chairman and CEO Randall Stephenson said in a statement.
The announcement comes days after Judge Richard J. Leon determined that there will be no conditions and approved the $84.5 billion merger.
“Ultimately, I conclude that the Government has failed to meet its burden to establish that the proposed transaction is likely to lessen competition substantially,” he wrote.
AT&T will have ownership over channels such as CNN, TBS, TNT, HBO, and will be the U.S.’ top pay-TV distributor.
The Department of Justice has a window of 60 days to appeal the decision.
