AT&T Inc. won approval from a U.S. court on Tuesday to buy Time Warner Inc for US$85 billion, allowing AT&T to compete with internet companies that dominate digital advertising and providing new sources of revenue.
The planned deal is seen as a turning point for a media industry that has been upended by companies like Netflix and Google which produce content and sell it online directly to consumers, without requiring a pricey cable subscription.
Distributors including cable, satellite and wireless carriers all see buying content companies as a way to add revenue.
The ruling could also prompt a cascade of pay TV companies buying television and movie makers, with Comcast Corp.’s bid for some Twenty-First Century Fox assets potentially the
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