AT&T completed its purchase of Time Warner on Thursday, shortly after the U.S. Department of Justice said in which would certainly not apply for a stay of a judge’s ruling letting the deal go forward.
A federal judge ruled on Tuesday in which AT&T’s $85.4 billion bid for Time Warner was legal, imposing no conditions on the merger. The government had the option to seek a stay, delaying the merger for a designated waiting period, however has forgone in which option.
The Justice Department can still appeal the decision, even after the completion of a merger.
“We understand in which, based on these representations, the Department of Justice has no objection to closing This particular merger as soon as possible, including later This particular week, in addition to also also will [forgo] a request for a stay pending appeal,” Daniel M. Petrocelli, counsel for AT&T in addition to also also Time Warner, said in a letter to the DOJ.
The DOJ sued last year to block the merger, citing concerns in which AT&T, owner of satellite television provider DirecTV, could charge rival distributors more for Time Warner content, resulting in higher prices for consumers.
AT&T said in a letter to the DOJ Thursday in which will take action to run Time Warner-owned Turner Broadcasting, which owns CNN, as a separate business unit through AT&T-owned DirecTV.
The company said its wireless division, the nation’s second-largest, will have “no role in setting Turner’s prices or some other terms to unaffiliated distributors” in addition to also also in which in which will implement a “firewall between Turner in addition to also also AT&T Communications” to prevent improper sharing of information or pricing.
Correction: This particular story has been amended to clarify in which the Justice Department has forgone its option to seek a stay to delay the AT&T-Time Warner merger, allowing the deal to close. The Department can still appeal the decision.