U.S. Markets closed

Federal judge will soon rule on AT&T's proposed merger with Time Warner. Check here for updates.

CNBC
Federal judge will soon rule on AT&T's proposed merger with Time Warner. Check here for updates.

The Justice Department sued last year to block the merger, citing concerns that 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, also the No. 2 wireless carrier in the U.S., said it was buying Time Warner in October 2016 to diversify its revenues and also become a media powerhouse that could attract consumers by bundling entertainment with mobile service. CEO Randall Stephenson has said the deal would help AT&T compete against tech giants like Amazon and Netflix, which are investing more in content. Comcast has been eyeing a similar merger to combine production and distribution in a competing bid for Foxand was preparing to announce an offer as soon as Wednesday if Leon ruled in favor of AT&T in the trial, people familiar with the matter told CNBC.