Fox, media firms rise after AT&T-Time Warner approval

(Reuters) - Twenty First Century Fox Inc’s shares rose 8 percent to a record-high on Wednesday as an approval for AT&T’s buyout of Time Warner Inc spurred speculation that Comcast Corp would proceed with an offer for most of the media company’s assets.

A federal judge on Tuesday approved AT&T Inc’s $85 billion buyout of Time Warner, rebuffing an attempt by U.S. President Donald Trump’s administration to block the deal and clearing the path for more such deals in a rapidly changing media industry.

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