The following is an excerpt from reuters.com | July 24, 2018 |
(Reuters) - AT&T Inc reported quarterly revenue that fell shy of Wall Street estimates, sending its shares down about 1 percent after the close of regular trading.
After a six-week trial, the second-largest U.S. carrier by subscribers won court approval last month to close its $85 billion acquisition of media company Time Warner Inc and began bundling the content it gains from the deal with new wireless plans in an effort to drive subscriber growth.
A federal appeals court last week approved the U.S. Justice Department’s request for an expedited schedule to appeal the Time Warner ruling on antitrust concerns.
Time Warner and other merger costs were $321 million in the second quarter when the trial took place.
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