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A federal judge issued a ruling Tuesday afternoon that could fundamentally reshape one of the most influential companies in Texas.

Judge Richard Leon said telecom giant AT&T will be able to merge with Time Warner after all, despite opposition from the Trump administration.

Updated at 6:02 p.m. ET

A federal judge on Tuesday gave his blessing to telecom giant AT&T's drive to take over the Time Warner media conglomerate. U.S. District Court Judge Richard Leon rejected arguments by Justice Department lawyers that the combined company would be too large and too powerful and that the $85 billion deal would harm competition and hurt consumers.

From Texas Standard.

Headlines of the past few days have heralded the potential consequences of the impending decision by a federal district judge on whether Texas-based AT&T can merge with Time Warner. Business writers say the decision will determine whether old-line media companies will have the tools to compete with tech and entertainment companies in the future, or whether those media companies will lose out, as tech giants and makers of entertainment go around the older firms to sell to viewers. And entertainment consumers will be affected too, if fewer companies consolidate to control both the means of accessing content, and the content itself.

Telecom giant AT&T made a "big mistake" in paying hundreds of thousands of dollars to President Trump's personal lawyer to seek his help as the company pursued a merger that the administration opposed, the company said Friday.

CEO Randall Stephenson said in a message to employees that although he believes everything about the relationship with Michael Cohen was legal and "entirely legitimate," it represented a "serious misjudgment."

"In this instance, our Washington D.C. team's vetting process clearly failed, and I take responsibility for that," he wrote.

From Texas Standard:

Sunday, the third and fourth largest mobile carriers in the U.S. announced a $26.5 billion plan to merge. A marriage of Sprint and T-Mobile, if approved, would yield a company with more than 90 million customers. But the merger isn’t a done deal yet, and another pending communications merger could shape the outcome – the proposed acquisition of Time-Warner by AT&T. That merger is in court, facing opposition from the U.S. Justice Department.

Updated at 3:07 p.m. ET

T-Mobile and Sprint have reached a "definitive agreement" to merge in an all-stock deal, which would create a new company with a total value of $146 billion, based on current stock prices.

From Texas Standard.

Economists and Democrats have leveled a lot of criticism at the GOP tax plan that just passed in Congress. But for many of the 200,000 AT&T workers who have been told they will receive a $1,000 bonus, thanks to the plan, things probably seem pretty good. And that may be the big idea. 

The Department of Justice is suing to block AT&T's purchase of Time Warner, legally challenging a $85 billion deal that would give the telecom giant control of a media empire including CNN, Warner Brothers, HBO, and other major media brands.

The U.S. Justice Department has informed AT&T that it will block the telecommunications giant's planned $85 billion takeover of Time Warner unless it sells off CNN — a network frequently targeted for derision by President Trump. The move has therefore triggered concerns within CNN that the administration is taking action against a media outfit simply because it has angered the president with its coverage, raising First Amendment implications.

When AT&T, a leading Internet provider, proposed a massive merger with Time Warner, a huge media conglomerate, the question many people asked was: Will I have to pay more for my TV?

On Wednesday, members of the Senate Judiciary Committee quizzed the CEOs of the two companies — over and over posing basically the same question: What will the $85.4 billion merger mean for the prices that consumers may have to pay?

Senate Panel Hearing Weighs AT&T -Time Warner Merger Proposal

Dec 7, 2016
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Nancy Marshall-Genzer

The Senate Judiciary Committee holds a hearing on Wednesday on the proposed merger of AT&T and Time Warner. The deal is worth about $85 billion. President-elect Donald Trump attacked it on the campaign trail. Now his administration will likely decide its fate. 

Click the above audio player to hear the full story. 

AT&T

AT&T created a mosaic of 24,152 golf balls in downtown Dallas to honor Dallas’ very own Jordan Spieth. Watch how AT&T did it in this cool time-lapse video.

ATT.com

Dallas-based AT&T suffered a potential security breach involving the data of about 1,600 accounts.

AT&T's plan to buy DirecTV for $48.5 billion is the latest tectonic shift in the media industry, with many viewing the deal as a response to the pending merger of Comcast and Time Warner Cable.

Among business analysts and consumer advocates, response to the AT&T-DirecTV deal is mixed. Here's a roundup of what we're seeing:

Princess Stand In the Rain / Flickr

Update, 3:12 p.m.: ESPN's Darren Rovell reports the naming rights deal with AT&T is worth between $17 and $19 million per year.

BJ Austin

Plans for a PGA-sanctioned, championship golf course in southeast Dallas are making headlines, but how are they playing in the neighborhood near Loop 12 and I-45?

BJ Austin / KERA News

Plans for a championship golf course on an old landfill site in southeast Dallas could land the annual Byron Nelson Championship and spark new development on the edge of the Great Trinity Forest. Officials launched the project Friday morning.

medithIT / (cc) flickr

Orders for the iPhone 5 topped 2 million in the first 24 hours after Apple started taking them at 12 midnight Pacific time Friday. That's more than double the amount of iPhone 4S orders on its first full day.

<a href="http://www.shutterstock.com" target="_blank">Shutterstock</a>

Top officials from state agencies have warned Texas lawmakers that the cost of caring for the state's disabled and poor children and elderly are growing faster than tax revenues.

caribb / (cc) flickr

Officials with American Airlines will try to convince a bankruptcy judge that labor agreements must be broken for the carrier to survive.

Leaders of the Fort Worth-based airline on Monday will be at a federal courthouse in New York to open what could be a two-month hearing.

Parent company AMR seeks to void its contracts with pilots, flight attendants and ground workers and impose its own terms.

The airline lost more than $10 billion in the decade leading up to its declaration of bankruptcy last November.

Sabrina Tang / (cc) flickr

AT&T is selling its Yellow Pages business to the private equity firm Cerberus Capital for $950 million and a minority stake in the new entity that will run the business.

The Dallas company says it wants to focus on its core wireless, IP and cloud-based businesses. The transaction will have a minimal effect on its earnings this year. Cerberus is paying AT&T Inc.

$750 million in cash and a $200 million note, plus a 47 percent stake in YP Holdings LLC.

AT&T Drops Bid To Purchase T-Mobile USA

Dec 19, 2011

After the federal regulators raised questions about AT&T's bid to buy T-Mobile USA, the telecommunications company said it was scrapping its $39 billion bid. The merger would have made AT&T the largest wireless carrier in the United States.

Etienne Franchi / AFP/Getty Images

Dallas-based telecom giant AT&T has pulled the plug on its $39 billion acquisition of T-Mobile USA, the company said Monday.