AT&T’s Time Warner Takeover Wins Judge’s Approval in Defeat for Justice Dept.

A federal judge on Tuesday approved the blockbuster merger between AT&T and Time Warner, rebuffing the government’s effort to block the $85.4 billion deal, in a decision that is expected to unleash a wave of takeovers in corporate America.

The judge, Richard J. Leon of the United States District Court in Washington, said the Justice Department had not proved that the telecom company’s acquisition of Time Warner would lead to fewer choices for consumers and higher prices for television and internet services.