AT&T completes takeover of Time Warner with Warner Bros, CNN and HBO now under its ownership - ToyNews

AT&T completes takeover of Time Warner with Warner Bros, CNN and HBO now under its ownership

The more than $80 billion deal has been two years in the making and led to one of the largest US anti-trust lawsuits in decades.
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US telecoms giant AT&T has completed its takeover of the entertainment firm Time Warner, having won a court battle earlier this week.

The more than $80 billion deal has been two years in the making and led to one of the largest US anti-trust lawsuits in decades.

However, a US district court judge cleared the deal this week without condisitons, clearing the way for a merger that may are saying could shape the US media scene for years to come.

AT&T argues that it needed to acquire Time Warner to compete with online streaming services like Amazon and Netflix. The deal encompasses Warner Bros. CNN and HBO, making AT&T one of the biggest players in Hollywood.

The landmark deal between the firms will now see well-known franchises like Game of Thrones, Wonder Woman and CNN under the roof of the pay-tv provider.

The deal is also likely to kick start an era of bidding wars among other telecoms and internet-based juggernauts. Comcast has already trumped Disney’s bid for 21 Century Fox and many are expecting similar discussions to be circling the likes of Facebook, Apple, Amazon, Netflix and Google in the near future.

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