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Read the full court opinion approving AT&T's bid for Time Warner

Randall Stephenson, chairman and chief executive officer of AT&T Inc., left, speaks while Jeffrey 'Jeff' Bewkes, chairman and chief executive officer of Time Warner Inc.
Patrick T. Fallon | Bloomberg | Getty Images
Randall Stephenson, chairman and chief executive officer of AT&T Inc., left, speaks while Jeffrey 'Jeff' Bewkes, chairman and chief executive officer of Time Warner Inc.

A federal judge said Tuesday that AT&T's $85.4 billion purchase of Time Warner is legal, clearing the path for a deal that gives the pay-TV provider ownership of cable channels such as HBO and CNN as well as film studio Warner Bros.

U.S. District Court Judge Richard Leon did not impose conditions on the merger's approval. He also urged the government not to seek a stay when issuing his decision in a closed-door room with reporters.

In a nearly 200-page decision, Leon said that he ultimately concluded that the government failed to meet its burden to establish that the deal was likely to lessen competition substantially.

Read the court's full opinion below: