Reuters: AT&T defeats U.S. in merger fight to buy Time Warner.

A U.S. appeals court approved wireless carrier AT&T Inc’s deal to buy media company Time Warner on Tuesday, a defeat for the Trump administration which had argued the $85.4 billion merger would mean higher prices for consumers.

AT&T’s second major court victory against the Justice Department sets the stage for the No. 2 wireless carrier to integrate its WarnerMedia business as well as its new Xandr advertising unit.

The three-judge panel on the U.S. Court of Appeals for the District of Columbia ruled unanimously in favor of the deal. The decision could end a 15-month effort by the Justice Department to block the deal.

Gigi Sohn, who worked in the Federal Communications Commission during the Obama administration, said that the ruling showed a need to reform antitrust laws so the government can stop problematic deals.

More at Reuters.