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AT&T's $85.4 billion takeover of Time Warner receives approval from a US district court judge

AT&T and Time Warner announced a landmark acquisition agreement on October 22, 2016, where AT&T would pay $85.4 billion in cash and stock to acquire Time Warner and assume debts of 23.3 billion for a...

AT&T and Time Warner announced a landmark acquisition agreement on October 22, 2016, where AT&T would pay $85.4 billion in cash and stock to acquire Time Warner and assume debts of 23.3 billion for a total offer of $108.7 billion. Upon the merger's completion, AT&T would gain ownership of Time Warner. At the time, AT&T, was already the largest telecommunications company and Pay-Tv distributor, and fears were expressed about growing consolidation in the entertainment industry. Citing concerns of unfair consumer practices, the Department of Justice sued AT&T on November 20, 2017, to block the merger. The court trial between AT&T and the DOJ lasted for six weeks from March to June 2018 and was often called “the antitrust trial of the century.” On June 12, 2018, the U.S.

Historical Significance

AT&T and Time Warner announced a landmark acquisition agreement on October 22, 2016, where AT&T would pay $85.

Events Before

  1. Australian Open Women's Tennis: Serena Williams defeats older sister Venus Williams 6–4, 6–4 for her 7th Australian titl

    Australian Open Women's Tennis: Serena Williams defeats older sister Venus Williams 6–4, 6–4 for her 7th Australian title and record 23rd Grand Slam event singles victory

  2. Discovery of a new mostly underwater continent, Zealandia, in the South Pacific is announced in the research journal "GS

    Discovery of a new mostly underwater continent, Zealandia, in the South Pacific is announced in the research journal "GSA Today"

  3. Jay-Z becomes the first rapper inducted into the Songwriters Hall of Fame alongside Max Martin, Jimmy Jam, and Terry Lew

    Jay-Z becomes the first rapper inducted into the Songwriters Hall of Fame alongside Max Martin, Jimmy Jam, and Terry Lewis

  4. World's oldest golf club, Muirfield in Scotland, votes to admit women as members for the first time in 273 years

    World's oldest golf club, Muirfield in Scotland, votes to admit women as members for the first time in 273 years

  5. Bob Dylan receives his Nobel Prize for Literature at a private ceremony in Stockholm

    Bob Dylan (legally Robert Dylan; born Robert Allen Zimmerman, May 24, 1941) is an American singer-songwriter.

Events After

  1. Dutchman Michael van Gerwen wins his 3rd PDC World Darts Championship; beats Englishman Michael Smith 7-3 at the Alexand

    Dutchman Michael van Gerwen wins his 3rd PDC World Darts Championship; beats Englishman Michael Smith 7-3 at the Alexandra Palace in London

  2. US grounds all Boeing 737 Max aircraft after bans by other countries following the plane type's second crash in Ethiopia

    The Boeing 737 MAX is a series of narrow-body aircraft developed by Boeing Commercial Airplanes as the fourth generation of the Boeing 737.

  3. Climate change strikes held by schoolchildren take place around the world, inspired by Swedish teenager Greta Thunberg

    Greta Tintin Eleonora Ernman Thunberg is a Swedish activist best known for pressuring governments to address climate change and social issues.

  4. Syrian Democratic Forces announce that the last Islamic State territory has been retaken, raising flags in Baghuz, Syria

    Syrian Democratic Forces announce that the last Islamic State territory has been retaken, raising flags in Baghuz, Syria, and ending the five-year Islamic State "caliphate"

  5. Amazon's Jeff Bezos and MacKenzie Bezos agree record-breaking $35 billion divorce settlement

    Amazon's Jeff Bezos and MacKenzie Bezos agree record-breaking $35 billion divorce settlement

More from the 2010s

New FINA rules re competition swimsuits come into effect; all body-length swimsuits banned; men's suits to maximally cov

New FINA rules re competition swimsuits come into effect; all body-length swimsuits banned; men's suits to maximally cover from the waist to knee, and women's from shoulder to knee; fabric must be a "textile" or woven material

10 people are killed, and 120 are injured in a stampede in Luanda, Angola

10 people are killed, and 120 are injured in a stampede in Luanda, Angola

Dutchman Michael van Gerwen wins his first PDC World Darts Championship, defeating Peter Wright of Scotland 7-4; it is t

Dutchman Michael van Gerwen wins his first PDC World Darts Championship, defeating Peter Wright of Scotland 7-4; it is the first time no Englishman has been in the final

Lithuania adopts the euro as its currency, replacing the Litas and becoming the 19th member of the Eurozone

Lithuania adopts the euro as its currency, replacing the Litas and becoming the 19th member of the Eurozone

Frequently Asked Questions

What happened on June 12, 2018?
AT&T and Time Warner announced a landmark acquisition agreement on October 22, 2016, where AT&T would pay $85.4 billion in cash and stock to acquire Time Warner and assume debts of 23.3 billion for a total offer of $108.7 billion. Upon the merger's completion, AT&T would gain ownership of Time Warner. At the time, AT&T, was already the largest telecommunications company and Pay-Tv distributor, and fears were expressed about growing consolidation in the entertainment industry.
Why is AT&T's $85.4 billion takeover of Time Warner receives approval from a US dist... significant?
AT&T and Time Warner announced a landmark acquisition agreement on October 22, 2016, where AT&T would pay $85.

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June 12 in HistoryYear 2018