U.S. Justice Dept to appeal approval of AT&T acquisition of Time Warner

The U.S. Justice Department said on Thursday it would appeal a federal judge's approval of AT&T Inc's $85.4 billion (£64.6 billion) acquisition of Time Warner, raising the prospect barely a month after the deal closed that it could be undone. AT&T was sued by the Justice Department on antitrust grounds, saying that the deal would harm consumers, but U.S. District Judge Richard Leon last month approved the deal, allowing it to move forward following a lengthy trial. Leon ruled that the tie-up between AT&T's wireless and satellite businesses with Time Warner's movies and television shows was legal under antitrust law.