AT&T Closes Deal for Time Warner

AT&T Inc. (T) closed the $85.4 billion purchase Time Warner Inc. (TWX) , the Dallas telecom said Thursday evening.

The total price tag comes to $108.7 billion, including assumed debt. Following the blockbuster acquisition of the parent of HBO, Warner Bros. and Turner Networks, AT&T has $180.4 billion in net debt.

Judge Richard Leon cleared the deal on Tuesday, by rejecting a Department of Justice lawsuit to block the transaction.

The DOJ informed the court on Thursday that it would not request a stay and does not object to the transaction closing. The government is still considering an appeal, however.

Since Leon's ruling, Comcast Communications Inc. (CMCSA) has replaced AT&T in the headlines by launching a $65 billion offer for most of Twenty-First Century Fox Inc. (FOXA) . Fox agreed to sell the assets to Walt Disney Co. (DIS) for $52.4 billion in December.

-David Hatch contributed to this report

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