Appeals Court Rejects DoJs Move To Block AT&T's Acquisition Of Time Warner

(RTTNews) - A federal appeals court on Tuesday rejected the Justice Department's move to overturn a ruling that approved AT&T's acquisition of Time Warner.

A federal appeals court on Tuesday rejected the Justice Department's move to overturn a ruling that approved AT&T's acquisition of Time Warner.

The three-judge panel of U.S. Court of Appeals for the District of Columbia Circuit unanimously affirmed that a ruling that found the deal was unlikely to harm competition.

"The merger of these innovative companies has already yielded significant consumer benefits, and it will continue to do so for years to come. While we respect the important role that the U.S. Department of Justice plays in the merger review process, we trust that today's unanimous decision from the D.C. Circuit will end this litigation," AT&T General Counsel David McAtee said in a statement.

The Department of Justice announced it will not pursue further litigation in the case.

"We are grateful that the Court of Appeals considered our objections to the District Court opinion. The Department has no plans to seek further review," the spokesperson said.

In June, a U.S. District Court Judge had ruled that the $85.4 billion bid was legal, and imposed no conditions on the merger.

However, Justice Department maintained the view that the merger would reduce competition in the pay-TV industry. The agency appealed the ruling in July, after AT&T formally closed the deal.