The oral opinion, slated to be delivered after 4 p.m. E.T.by U.S. District Judge Richard Leon, will cap the company's almost two-year battle to close its takeover of Time Warner Inc.
The merger was approved without any conditions, a stunning rebuke of the government's case. The ruling comes one day after the repeal of net neutrality, meaning that AT&T now has more freedom to prioritize the delivery of select content on its network.
If AT&T is successful in its bid to buy Time Warner, it will nearly certainly find itself competing in a media market dominated by other large, integrated providers.
AT&T said that controlling Time Warner's cable brands will help it craft new types of content to retain its customers as web-based rivals like Netflix Inc woo audiences away from traditional pay-TV subscriptions. In order for them to compete against these giants, Time Warner needs AT&T's distribution network of broadband and wireless customers.
The biggest impact of this deal will be felt quickly, as Comcast will now formally make an offer to Fox for the majority of its assets. He noted that Time Warner owned CNN, and then declared his opposition to the $85 billion proposed sale.
Time Warner gained as much as 5.8 percent in after-hours trading, while AT&T fell as much as 3.9 percent.
AT&T said it intends to close the merger by June 20. He rejected the government's argument that it would hurt competition in pay TV and cost consumers hundreds of millions of dollars more to stream TV and movies.
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United States district judge Richard Leon dismissed the antitrust case brought by the justice department last November, the culmination of a 20-month ordeal that has seen the deal attacked by Donald Trump, critics of media consolidation and consumer groups.
The Justice Department has not brought a suit seeking to stop a vertical merger - whereby companies operating in different spaces combine - since 1979.
It is about tectonic shifts in the media and technology industries.
As one carrot to get deal approval, AT&T CEO Randall Stephenson mentioned in court that AT&T will be debuting a new skinny streaming service in the near future.
"This is a disappointing result, and we expect the government will appeal", Public Knowledge Senior Counsel John Bergmayer said.
"We are disappointed that the court missed an opportunity to rein in the First Amendment-crushing mass media consolidation trend, which puts too much media power in the hands of too few", Manning said in a statement. If AT&T and Time Warner win, it will likely be full steam ahead.
Updated 2:18 pm PT: This story was updated with comments from AT&T and the Justice Department.
But AT&T rejected that idea, stating in a court filing that, "Divestitures here would destroy the very consumer value this merger is created to unlock".