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A mere days after the court ruling, the carrier completed its purchase of Time Warner for an estimated $85 billion. The potential ramifications here are huge and involve several entities, not to mention the precedent it could set.

On Thursday, the Department of Justice filed an appeal to last month's court ruling, which cleared the way for AT&T's acquisition of Time Warner.

David McAtee, AT&T's general counsel, said the company is "ready to defend" the judge's decision.

The case has been closely watched as an indicator of how courts would treat mergers of companies in different industries.

Stung by a federal judge's dismissal of its objections to AT&T's megamerger with Time Warner, the Trump Justice Department is challenging the decision with a legal appeal. This decision to appeal could have been made at the highest levels of the Trump administration.

Following the announcement of the major union of Time Warner and AT&T the Justice Department had previously expressed its concerns with the major merger saying it would make the market, "less competitive and less innovative".

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No matter how the Justice Department's appeal unfolds, AT&T's completed acquisition of Time Warner could prove hard to untangle. Today, the Justice Department has appealed that U.S. court's approval.

The merger, first announced in October 2016, was opposed by President Donald Trump.

AT&T argued that it needed that scale to compete with rivals such as Netflix and Amazon. "Together, AT&T and Time Warner concluded that both companies could stop "chasing taillights" and catch up with the competition".

The DOJ's move could increase that risk as its arguments against the AT&T-Time Warner included concerns that AT&T would be the sole distributor of highly sought-after content such as HBO.

Earlier this month, AT&T raised the cost by $5 per month for its digital streaming offerings for its satellite service DirecTV, called DirecTV Now.