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Judge rules that AT&T can buy Time Warner

A slot machine showing AT&T and DOJ logos
Illustration: Sarah Grillo, Caresse Haaser/Axios

AT&T will be allowed to complete its $85 billion acquisition of Time Warner, with a federal judge on Tuesday rejecting an antitrust challenge by the U.S. Justice Department.

Why it matters: The ruling is expected to set off a chain reaction of other mega-mergers, while the AT&T-Time Warner tie-up will remake the media, tech and telecom landscapes by creating a media powerhouse that controls premium content as well as the networks that distribute it.