The judge has spoken.

Judge Richard Leon's decision on Tuesday to allow the massive AT&T-Time Warner merger to move ahead without any conditions is reverberating throughout the telecom and media sectors, as well as deals in other sectors involving vertical integration.

The Deal's senior editor in Washington, D.C. David Hatch and senior writer Chris Nolter break down what the ruling does and doesn't mean for M&A and specifically for Comcast CMCS and Disney's DIS bid for the entertainment assets of 21st Century Fox FOXA.

"This decision really highlights how difficult it is for antitrust enforcers to challenge a vertical deal," said Hatch. "This was the first lawsuit that the DOJ brought against a vertical transaction in more than 40 years. And it's a very high bar to prove that a combination of complementary assets is anti-competitive."

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