A three-judge federal appeals court panel ruled on Tuesday that AT&T's acquisition of Time Warner can stand, rejecting the Justice Department's argument that the purchase would decrease pay-TV competition and lead to higher prices, CNBC reports.
In July, the agency appealed a federal judge's ruling that found the $85.4 billion acquisition legal, and in Tuesday's decision, the judges asserted that "the government's objections that the district court misunderstood and misapplied economic principles ... are unpersuasive," reports Reuters.
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