A judicial panel has upheld a ruling approving the AT&T-Time Warner merger, rejecting a challenge from the Justice Department.
Last year, a judge approved AT&T's $85 billion acquisition of Time Warner.
But the government appealed shortly after, saying the merger would cut down on competition and raise costs for consumers. DOJ attorneys claimed that the judge who approved the deal didn't fully consider those economic points.
It's the first time in decades that the U.S. government has gone to court to block a merger between two companies that don't directly compete with one another.
CNN reportsthat the Justice Department could now ask the full appeals court to hear the case, or take it to the Supreme Court.
Additional reporting from Newsy affiliate CNN.
