U.S. Justice Department, AT&T await nail-biter of a court decision

A federal judge will decide next week whether AT&T (T.N), which owns DirecTV, will be allowed to buy Time Warner (TWX.N), home to CNN and March Madness basketball, for $85 billion. Judge Richard Leon of the U.S. District Court for the District of Columbia oversaw a six-week trial where the government argued the deal was illegal because it would give AT&T the power to withhold HBO and Turner channels from DirecTV's smaller pay TV rivals and cheaper online competitors. The Justice Department focused on Time Warner's Turner assets, saying cable networks needed Turner channels like CNN and live sports to survive.

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