Judge: Gov't evidence "too thin" in AT&T case

Courts To M&A Bankers “Everbody Gets Laid!”

He said during the trial that the merger with Time Warner is a "significant shift in strategy" for AT&T, explaining the company knew that smaller acquisitions for content wouldn't work.

The lawsuit against AT&T had cast a pall over that activity, as a sign that the Department of Justice, under new Trump appointees, was taking a more hard line stance to mega-deals.

The $85 billion merger of AT& and was cleared by a federal judge in Washington, D.C., today in a landmark antitrust ruling that went against the US government's Department of Justice.

U.S. District Judge Richard Leon is expected to announce in court Tuesday his decision in the biggest antitrust trial in years.

Investors are welcoming a federal judge's approval of AT&T's $85 billion takeover of Time Warner.

Leon rejected the notion of temporarily suspending the merger for a possible appeal by the government.

Leon said the evidence and testimony provided by the government were faulty and that it never proved the merged entity would have increased leverage over its competitors.

For cable companies feeling the pain of cord-cutting, similar deals for coveted media brands could help them build out new content offerings and offset expected declines in revenues, analysts and dealmakers told Reuters.

Courts To M&A Bankers “Everbody Gets Laid!”

Judge Richard Leon said the U.S. government failed to meet the burden of proof that the tie up between the largest United States pay TV operator and media entertainment giant Time Warner would harm competition. Trump had pledged to block the deal when he was campaigning for president. Looming in the background of the deal has been Trump's long-running feud with Time Warner's CNN, which he has often derided as "failing" and a purveyor of "fake news". In February, Rep. Elijah E. Cummings, the ranking member of the House Committee on Oversight and Government Reform, and Rep. Gerald E. Connolly, the ranking member of the Subcommittee on Government Operations, sent a letter to Attorney General Jeff Sessions asking for documents and emails between the Justice Department and the White House about the decision to sue AT&T and Time Warner.

The Justice Department has not brought a suit seeking to stop a vertical merger - whereby companies operating in different spaces combine - since 1979.

"We are disappointed that the court missed an opportunity to rein in the First Amendment-crushing mass media consolidation trend, which puts too much media power in the hands of too few", Manning said in a statement.

Bloomberg via Getty Images AT&T CEO and Chairman Randall Stephenson exits federal court in April.

AT&T said it intends to close the merger by June 20.

Americans for Limited Government President Rick Manning said the decision was regrettable. The combination would push technology forward and give consumers more choices, AT&T has promised.

But AT&T rejected that idea, stating in a court filing that, "Divestitures here would destroy the very consumer value this merger is created to unlock".

Primaries on tap for Tuesday
Barbara Comstock attempts to defeat Republican challenger Shak Hill to hold onto Virginia's 10th District in the U.S. If you do head to the polls tomorrow, don't forget to check your precinct, and make sure to bring your voter ID.

Tesla undecimates its workforce but Elon insists everything's absolutely fine
But Musk has promised an acceleration of Model 3 manufacturing, which will allow the company to bring in a lot more revenue. The Model 3 starts at $35,000, but lower-priced configurations are not available yet.

Scotland stun England in Edinburgh run-fest
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