It will be one of the biggest media deals ever....
A federal judge said that AT&T's $85.4 billion purchase of Time Warner is legal, clearing the path for a deal that gives the pay-TV provider ownership of cable channels such as HBO and CNN as well as film studio Warner Bros.
U.S. District Court Judge Richard Leon did not impose conditions on the merger's approval. He also urged the government not to seek a stay when issuing his decision in a closed-door room with reporters.
Now many think this ruling will clear the way for future mega media mergers. Comcast could announce Today that they are making a play for Twenty-First Century Fox.
Back to the AT&T/Time Warner deal, AT&T lead trial attorney Daniel Petrocelli says there will be no divestment of any assets in the completion of the merger. In other words, AT&T plans on keeping CNN.
Now the speculation of CNN boss Jeff Zucker's future is begins.