WASHINGTON (AP) - Bring on the new wave of media megamergers.
AT&T's victory over the government's attempt to block its $85 billion takeover of Time Warner underscores just how much the way people watch TV - and pay for it - has changed. It also highlights how corporate America wants to adapt to deal with its new environment. In short: Bigger is better.
The government argued that the merger would stifle competition and lead to higher cable bills. But U.S. District Judge Richard Leon ultimately agreed with AT&T's assertion that it had to grow to survive in the era of Google, Amazon and Netflix.
The ruling could open the floodgates to deal making in the fast-changing worlds of entertainment production and distribution.
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